The following is a summary of the Canada Goose Holdings Inc. (GOOS) Q4 2024 Earnings Call Transcript:
Financial Performance:
Canada Goose reported a Q4 revenue growth of 22% and its adjusted EBIT increased by 51% year-over-year, surpassing expectations.
The company delivered CAD 1.33 billion in total revenue for the fiscal year 2024, up 10% from the previous year, and CAD 171.8 million in adjusted EBIT.
Q4 D2C operating income increased by CAD 14.4 million year over year to CAD 104.8 million.
Their net debt stood at CAD 584.1 million at the end of Q4, compared to CAD 468.1 million at the same point last fiscal year.
For FY '25, the company predicts revenues to grow in the low single digits year on year, while expecting a decrease in wholesale revenue as they reduce the supply of inventory to partners.
Business Progress:
Throughout the year, the company expanded its global footprint to 68 permanent stores in key markets and added new product lines such as sneakers.
The company appointed its first-ever creative director, Haider Ackermann, and launched a new hoodie with proceeds going to Polar Bears International for global climate change awareness.
In 2025, the company plans to further focus on brand evolution, upscale retail execution, business simplification, and improving inventory management.
Plans include opening 10 stores, streamlining company structure, improving inventory turns, and prioritizing data-driven retail execution.
In terms of geographical segments, Asia and Asia Pacific are expected to be the strongest markets for Direct-to-Customer channels in FY '25. The company plans to control inventory in the wholesale channel to manage inventory-related issues.
More details: Canada Goose IR
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