{"success":true,"data":{"pressRelease":{"id":"103301","rtpr_id":"nBw9NVsbsa","ticker":"GOOS","exchange":"TSX","all_tickers":["GOOS"],"title":"Canada Goose Reports First Quarter Fiscal 2027 Results","author":"Business Wire","published_at":"2026-07-30T10:45:00.223Z","article_body":"Canada Goose Reports First Quarter Fiscal 2027 Results\n\n\n * Delivered revenue of $118.9m, an increase of 10.3% on a reported basis (up\n8.6% on a constant currency basis(1)) versus the prior year\n\n\n * Expanded adjusted EBIT margin(2) to (87.3)% from (98.7)% in the same period\nlast year driven by gross margin expansion and SG&A leverage, reducing\noperating loss and adjusted EBIT(2) to $(103.8)m\n\n\n * DTC comparable sales decline(3) was 3.2% in the first quarter, reflecting\nlower store comparable sales, partially offset by double-digit e-commerce\ngrowth across all regions\n\n\n * Maintained strong balance sheet and healthy inventory position, with inventory\nturns increasing 11% year-over-year to 1.0x sales\n\nCanada Goose Holdings Inc. (NYSE, TSX: GOOS) announced today financial results\nfor the first quarter ended June 28, 2026. All amounts are in Canadian dollars\nunless otherwise indicated.\n\n“Our first quarter is another proof point that our strategy is working,”\nsaid Dani Reiss, Chairman & CEO of Canada Goose. “We’re successfully\nevolving Canada Goose into a year-round luxury brand, with customers engaging\nacross more seasons and categories. We expanded gross margin, improved\nprofitability, and deepened engagement around the world. Together, those\nresults are building a stronger, more productive, and more profitable\nbusiness.”\n\nFirst Quarter Fiscal 2027 Business Highlights\n\nIn the first quarter, we advanced initiatives across product, brand, and\nchannels that are strengthening our operating model and positioning the\nbusiness for sustainable long-term growth.\n\n\n * Continued to expand year-round relevance with Apparel, Rainwear, and Windwear\nincreasing their contribution to total revenue, supporting customer\nacquisition and driving engagement beyond traditional winter categories.\n\n * Expanded brand visibility through our Spring/Summer '26 marketing campaigns,\nstrengthening customer acquisition and expanding brand reach through a more\ndisciplined mix of performance and brand-building investments, including our\nSnow Goose spring capsule and Natural Intelligence summer collection brand\ncampaigns.\n\n * Further strengthened our DTC operating model, with improvements in conversion\nand average order value, reflecting continued focus on delivering greater\nvalue from our retail network. In our first quarter, we opened four net new\nstores, bringing our store count to 92 as of the end of our first quarter.\n\n * Subsequent to our first quarter, we published our fiscal 2026 Impact\nReport(4), showcasing the progress of our sustainability impact strategy,\nincluding a 50% reduction in Scope 1 and Scope 2 emissions from our fiscal\n2019 baseline.\n\nFirst Quarter Financial Highlights(5)\n\nAll Year-Over-Year Comparisons Unless Otherwise Noted\n\n\n * Total revenue increased 10.3% to $118.9m, up 8.6% on a constant currency\nbasis(1).\n\n\n* DTC revenue increased 8.6% to $84.8m, or up 6.7% on a constant currency\nbasis(1) due to stronger performance in Asia Pacific and North America. DTC\ncomparable sales decline(3) was 3.2% primarily reflected softer store\ncomparable sales, partially offset by double-digit e-commerce growth.\n\n * Wholesale revenue increased 66.5% to $29.8m, or 65.4% on a constant currency\nbasis(1 )driven by shipping a larger planned wholesale order book, stronger\nin-season orders from wholesale partners, and shipment timing.\n\n * Other revenue decreased 63.6% to $4.3m, or 64.4% on a constant currency\nbasis(1) as a result of minimal friends and family activity in the United\nStates compared to the same prior year period.\n\n\n\n\n * Gross profit increased 12.1% to $74.2m due to higher revenue. Gross margin was\n62.4% compared to 61.4% in the first quarter of fiscal 2026, reflecting\nfavourable channel mix and region mix.\n\n * Selling, general and administrative (SG&A) expenses were $178.0m, compared\nto $224.9m in the prior year period. The decrease is primarily due to\nnon-recurrence of an arbitration award payment and an earn-out associated with\nour European knitwear manufacturer recognized in the prior year period.\n\n * Operating loss was $(103.8)m, compared to operating loss of $(158.7)m in the\nprior year period, attributable to higher gross profit and lower SG&A\nexpenses.\n\n * Net loss attributable to shareholders was $(90.8)m, or $(0.93) per basic and\ndiluted share, compared with a net loss attributable to shareholders of\n$(125.2)m, or $(1.29) per basic and diluted share in the prior year period.\n\n * Adjusted EBIT(2) was $(103.8)m, compared to $(106.4)m in the prior year\nperiod. Adjusted EBIT margin(2) was (87.3)%, compared to (98.7)% in the prior\nyear period.\n\n * Adjusted net loss attributable to shareholders(2) was $(86.5)m, or $(0.89) per\nbasic and diluted share, compared with an adjusted net loss attributable to\nshareholders of $(88.2)m, or $(0.91) per basic and diluted share in the prior\nyear period.\n\nBalance Sheet Highlights\n\nInventory of $489.9m for the first quarter ended June 28, 2026 was up 11%\nyear-over-year, primarily reflecting an expanded product assortment, a larger\nwholesale order book, and planned production growth to support anticipated\ndemand for Fall/Winter '26.\n\nThe Company ended the first quarter of fiscal 2027 with net debt(2) of\n$627.8m, compared to $541.7m at the end of the first quarter of fiscal 2026,\nwith net debt leverage of 2.1 times adjusted EBITDA, compared to 1.8 times\nadjusted EBITDA in the same period last year. This increase was mainly due to\nan increase in lease liabilities.\n\nFiscal 2027 Outlook\n\nThis outlook constitutes forward-looking information within the meaning of\napplicable securities laws. The purpose of this outlook is to provide a\ndescription of management's expectations regarding the Company's annual\nfinancial performance and may not be appropriate for other purposes. Actual\nresults could vary materially as a result of numerous factors, including\ncertain risk factors, many of which are beyond the Company’s control. Please\nsee Cautionary Note Regarding \"Forward Looking Statements\" below for more\ninformation.\n\nBased on our current visibility into the business and the progress of\ninitiatives already underway, we reiterate our fiscal 2027 outlook as set\nforth below. Our outlook reflects our current assessment of operating\nconditions, underlying demand trends, and the level of execution we believe is\nachievable.\n\nFor fiscal 2027, we expect:\n\n\n * Revenue to increase approximately low-single digits compared to the prior\nyear.\n\n * Adjusted EBIT margin(2) to be in the range of 11% to 12%.\n\nOur outlook assumes:\n\n\n * Revenue growth is driven by pricing actions already implemented, increased\ndepth in our product assortment, a larger wholesale order book, and new store\nopenings, partially offset by lower consumer demand relative to fiscal 2026,\nincluding softer traffic in key markets, reduced consumer confidence, and\nlower travel.\n\n * Gross margin expands, reflecting the benefit of pricing actions and\noperational efficiencies embedded in fiscal 2026 production and favourable\nchannel mix, partially offset by product mix, raw material inflation, and\nsupply chain cost pressures from current disruptions\n\n * SG&A declines as a percentage of revenue, as we balance disciplined cost\nmanagement with targeted investments across channels, marketing, and\ntechnology, driving operating leverage on a consolidated basis.\n\n * No material impact from U.S. duties announced on July 20, 2026, and which are\ncurrently stated to come into effect on August 19, 2026. Such duties, if and\nwhen in effect, would currently be expected to apply to a broad range of\nCanadian and other goods globally, including goods qualifying under the\nCanada-United States-Mexico Agreement (CUSMA) such as certain of the\nCompany’s products. Considering, among other things, the rapidly evolving\nCanada/U.S. trade environment and developments that may occur before or after\nsuch stated effective date, the extent to which such duties, together with any\nrelated retaliatory measures or further changes in trade policy, will affect\nthe Company and impact its business and results of operations, remains\nuncertain.\n\nConference Call Information\n\nThe Company will host the conference call at 8:30 a.m. EDT on July 30, 2026.\nThe conference call can be accessed by using the following link:\nhttps://events.q4inc.com/attendee/994265778\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fevents.q4inc.com%2Fattendee%2F994265778&esheet=54579544&newsitemid=20260730127597&lan=en-US&anchor=https%3A%2F%2Fevents.q4inc.com%2Fattendee%2F994265778&index=1&md5=adacc3ad18665f7ed348a4c2eec69405)\n. After registering, an email will be sent including dial-in details and a\nunique conference call pin required to join the live call. A live webcast of\nthe conference call will also be available on the investor relations page of\nthe Company's website at http://investor.canadagoose.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Finvestor.canadagoose.com&esheet=54579544&newsitemid=20260730127597&lan=en-US&anchor=http%3A%2F%2Finvestor.canadagoose.com&index=2&md5=c235ab77483f79f46b87bc4306c969af)\n.\n\nAbout Canada Goose\n\nCanada Goose is dedicated to empowering discovery and pushing boundaries in\ndesign, functionality, and style. Inspired by our Canadian heritage, we craft\nhigh-performance outerwear, apparel, footwear, and accessories that elevate\ncraftsmanship and embrace individuality. Rooted in resilience and driven by a\npioneering spirit, we embolden explorers to thrive in all environments while\npreserving the planet they roam. For more information, visit\nwww.canadagoose.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.canadagoose.com&esheet=54579544&newsitemid=20260730127597&lan=en-US&anchor=www.canadagoose.com&index=3&md5=63313ac3945b65a5ab973020ddb93fb2)\n.\n\nCautionary Note Regarding Forward-Looking Statements\n\nThis press release contains forward-looking statements within the meaning of\napplicable securities laws, including statements relating to our fiscal 2027\nfinancial outlook, the related assumptions included herein including\ndevelopments relating to the U.S. duties announced on July 20, 2026 and their\nimpacts, the execution of our proposed sustainability strategies, emission and\nenergy consumption and targets, business strategy and our expected operating\nperformance and prospects. These forward-looking statements generally can be\nidentified by the use of words such as “believe,” “could,”\n“continue,” “expect,” “estimate,” “may,” “potential,”\n“would,” “will,” and other words of similar meaning. Each\nforward-looking statement contained in this press release is subject to\nsubstantial risks and uncertainties that could cause actual results to differ\nmaterially from those expressed or implied by such statement. Applicable risks\nand uncertainties include, among others, the impact on our operations of the\ncurrent global economic conditions and international trade environment and\ntheir evolution, including developments relating to the U.S. duties announced\non July 20, 2026 and their impacts as further discussed herein, as well as the\nother risk factors that are discussed under “Cautionary Note Regarding\nForward-Looking Statements” and “Factors Affecting Our Performance” in\nour Management’s Discussion and Analysis (“MD&A”) for the year ended\nMarch 29, 2026 and for the first quarter ended June 28, 2026, as well as under\n“Risk Factors” in our Annual Report on Form 20-F for the year ended March\n29, 2026. In respect of our sustainability strategies and emission targets,\nrisks and uncertainties also include scientific or technological developments,\nevolving sustainability strategies, changes in carbon markets, and evolving\ngovernment regulations or changes in circumstances of our business. You are\nalso encouraged to read our filings with the SEC, available at www.sec.gov\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.sec.gov&esheet=54579544&newsitemid=20260730127597&lan=en-US&anchor=www.sec.gov&index=4&md5=702bc56848900308fcf96043a6d9d8dd)\n, and our filings with Canadian securities regulatory authorities available on\nSEDAR+ at www.sedarplus.ca\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.sedarplus.ca&esheet=54579544&newsitemid=20260730127597&lan=en-US&anchor=www.sedarplus.ca&index=5&md5=cd41bd2b06868438345544a430fe57d8)\nfor a discussion of these and other risks and uncertainties. Investors,\npotential investors, and others should give careful consideration to these\nrisks and uncertainties. We caution investors not to rely on the\nforward-looking statements contained in this press release when making an\ninvestment decision in our securities.\n\nAlthough we base the forward-looking statements contained in this press\nrelease on assumptions that we believe are reasonable, we caution readers that\nactual results and developments (including our results of operations,\nfinancial condition and liquidity, the achievement of our targets, goals and\ncommitments (including our emission targets), and the development of the\nindustry in which we operate) may differ materially from those made in or\nsuggested by the forward-looking statements contained in this press release.\nAdditional impacts may arise that we are not aware of currently. The potential\nof such additional impacts intensifies the business and operating risks which\nwe face, and these should be considered when reading the forward-looking\nstatements contained in this press release. In addition, even if results and\ndevelopments are consistent with the forward-looking statements contained in\nthis press release, those results and developments may not be indicative of\nresults or developments in subsequent periods. As a result, any or all of our\nforward-looking statements in this press release may prove to be inaccurate.\nNo forward-looking statement is a guarantee of future results. Moreover, we\noperate in a highly competitive and rapidly changing environment in which new\nrisks often emerge. It is not possible for our management to predict all\nrisks, nor can we assess the impact of all factors on our business or the\nextent to which any factor, or combination of factors, may cause actual\nresults to differ materially from those contained in any forward-looking\nstatements we may make. Consequently, all of the forward-looking information\ncontained herein is qualified by the foregoing cautionary statements. You\nshould read this press release and the documents that we reference herein\ncompletely and with the understanding that our actual future results may be\nmaterially different from what we expect. The forward-looking statements\ncontained herein are made as of the date of this press release (or as of the\ndate specifically indicated therein), and we do not assume any obligation to\nupdate any forward-looking statements except as required by applicable laws.\n Condensed Consolidated Interim Statements of Loss \n \n \n \n(in millions of Canadian dollars, except per share amounts) (unaudited) \n   First quarter ended \n   June 28, June 29, \n \n2026 \n2025 \n   $ $ \n Revenue   118.9     107.8   \n Cost of sales   44.7     41.6   \n Gross profit   74.2     66.2   \n Selling, general & administrative expenses   178.0     224.9   \n Operating loss   (103.8 )   (158.7 ) \n Net interest, finance and other costs   21.1     5.4   \n Loss before income taxes   (124.9 )   (164.1 ) \n Income tax recovery   (31.9 )   (38.6 ) \n Net loss   (93.0 )   (125.5 ) \n       \n Attributable to:     \n Shareholders of the Company   (90.8 )   (125.2 ) \n Non-controlling interest   (2.2 )   (0.3 ) \n Net loss   (93.0 )   (125.5 ) \n       \n Loss per share attributable to shareholders of the Company     \n Basic and diluted(1) $ (0.93 ) $ (1.29 ) \n\n 1 Subordinate voting shares issuable on exercise of stock options are not \n treated as dilutive if including them would decrease the loss per share or if \n the average daily closing share price for the period was greater than the \n exercise price. Accordingly, for the first quarter ended June 28, 2026, \n 2,276,282 potentially dilutive shares have been excluded from the calculation \n of diluted loss per share because their effect was anti-dilutive (for the \n first quarter ended June 29, 2025 - 1,544,848 shares.) \n\n Condensed Consolidated Interim Statements of Comprehensive Loss \n \n \n \n(in millions of Canadian dollars, except per share amounts) (unaudited) \n   First quarter ended \n   June 28, June 29, \n \n2026 \n2025 \n   $ $ \n Net loss (93.0 ) (125.5 ) \n       \n Other comprehensive loss     \n Items that will not be reclassified to earnings, net of tax:     \n Actuarial loss on post-employment obligation (0.2 ) —   \n Items that may be reclassified to earnings, net of tax:     \n Cumulative translation adjustment gain 3.5   13.1   \n Net loss on derivatives designated as cash flow hedges (1.7 ) (1.7 ) \n Reclassification of net loss on cash flow hedges to income —   0.1   \n Other comprehensive income 1.6   11.5   \n Comprehensive loss (91.4 ) (114.0 ) \n       \n Attributable to:     \n Shareholders of the Company (89.4 ) (113.5 ) \n Non-controlling interest (2.0 ) (0.5 ) \n Comprehensive loss (91.4 ) (114.0 ) \n\n Condensed Consolidated Interim Statements of Financial Position \n \n \n \n(in millions of Canadian dollars) (unaudited) \n   June 28, June 29, March 29, \n \n2026 \n2025 \n2026 \n   $ $ $ \n     Reclassified Reclassified \n Assets       \n Current assets       \n Cash 206.9 180.5 408.2 \n Trade receivables 86.6 73.1 108.4 \n Inventories 489.9 439.5 386.3 \n Income taxes receivable 19.5 31.6 19.9 \n Other current assets 35.3 59.0 45.6 \n Total current assets 838.2 783.7 968.4 \n         \n Deferred income taxes 102.7 114.6 76.9 \n Property, plant and equipment 162.8 153.7 161.5 \n Intangible assets 127.3 130.9 127.9 \n Right-of-use assets 353.5 274.4 332.1 \n Goodwill 71.1 72.0 71.1 \n Other long-term assets 36.7 1.2 15.3 \n Total assets 1,692.3 1,530.5 1,753.2 \n         \n Liabilities       \n Current liabilities       \n Accounts payable and accrued liabilities 205.0 236.9 214.0 \n Provisions 37.5 35.7 45.8 \n Income taxes payable 5.8 19.2 11.7 \n Short-term borrowings 17.1 12.6 4.2 \n Current portion of lease liabilities 94.3 84.2 92.8 \n Total current liabilities 359.7 388.6 368.5 \n         \n Provisions 20.0 16.3 19.0 \n Deferred income taxes 5.3 11.8 11.0 \n Term Loan 419.2 388.6 406.4 \n Lease liabilities 302.8 236.5 281.8 \n Other long-term liabilities 42.0 42.1 38.7 \n Total liabilities 1,149.0 1,083.9 1,125.4 \n         \n Equity       \n Equity attributable to shareholders of the Company 525.9 431.7 608.4 \n Non-controlling interests 17.4 14.9 19.4 \n Total equity 543.3 446.6 627.8 \n Total liabilities and equity 1,692.3 1,530.5 1,753.2 \n\n Condensed Consolidated Interim Statements of Cash Flows \n \n \n \n(in millions of Canadian dollars) (unaudited) \n   First quarter ended \n   June 28, June 29, \n \n2026 \n2025 \n   $ $ \n     Reclassified \n Operating activities     \n Net loss (93.0 ) (125.5 ) \n Items not affecting cash:     \n Depreciation and amortization 36.1   31.2   \n Income tax recovery (31.9 ) (38.6 ) \n Interest expense 13.3   4.4   \n Foreign exchange gain (1.8 ) (3.4 ) \n Acceleration of unamortized costs on debt extinguishment 6.0   —   \n (Gain) loss on disposal of assets (0.9 ) 0.2   \n Share-based payment 5.1   4.1   \n Arbitration award —   43.8   \n Remeasurement of put option 1.8   1.1   \n Remeasurement of contingent consideration —   (0.1 ) \n   (59.3 ) (82.8 ) \n Changes in non-cash operating items (105.3 ) (30.0 ) \n Income taxes paid (7.0 ) (22.3 ) \n Interest paid (13.1 ) (8.5 ) \n Net cash used in operating activities (184.7 ) (143.6 ) \n Investing activities     \n Purchase of property, plant and equipment (4.7 ) (0.5 ) \n Net cash used in investing activities (4.7 ) (0.5 ) \n Financing activities     \n Mainland China Facilities borrowings 0.5   —   \n Japan Facility borrowings 12.3   8.5   \n Revolving Facility repayments —   (1.1 ) \n Term Loan repayments (1.0 ) —   \n Transaction costs on financing activities (1.3 ) —   \n Principal payments on lease liabilities (22.7 ) (19.4 ) \n Issuance of shares 1.7   —   \n Net cash used in financing activities (10.5 ) (12.0 ) \n Effects of foreign currency exchange rate changes on cash 4.6   2.2   \n Decrease in cash (195.3 ) (153.9 ) \n Cash, beginning of period 408.2   334.4   \n Cash, end of period 212.9   180.5   \n\n\nNon-IFRS Financial Measures and Other Specified Financial Measures\n\nThis press release includes references to certain non-IFRS financial measures\nsuch as adjusted EBIT, adjusted EBITDA, adjusted net loss attributable to\nshareholders of the Company, net debt, and constant currency revenue and\ncertain non-IFRS ratios such as adjusted EBIT margin, adjusted net loss per\nbasic and diluted share attributable to the shareholders of the Company and\nnet debt leverage. These financial measures are employed by the Company to\nmeasure its operating and economic performance and to assist in business\ndecision-making, as well as providing key performance information to senior\nmanagement. The Company believes that, in addition to conventional measures\nprepared in accordance with IFRS Accounting Standards, certain investors and\nanalysts use this information to evaluate the Company’s operating and\nfinancial performance. These financial measures are not defined under IFRS\nAccounting Standards nor do they replace or supersede any standardized measure\nunder IFRS Accounting Standards. Other companies in our industry may calculate\nthese measures differently than we do, limiting their usefulness as\ncomparative measures. Additional information, including definitions and\nreconciliations of non-IFRS financial measures to the nearest IFRS financial\nmeasure can be found in our MD&A for the first quarter ended June 28,\n2026, under “Non-IFRS Financial Measures and Other Specified Financial\nMeasures”. Such reconciliations can also be found in this press release\nunder “Reconciliation of Non-IFRS Measures” below.\n\nThis press release also includes references to DTC comparable sales (decline)\ngrowth which is a supplementary financial measure defined as a rate of\n(decline) growth of sales on a constant currency basis from e-Commerce sites\nand stores which have been operating for one full year (12 successive fiscal\nmonths). The measure excludes store sales from both periods for the specific\ntrading days when the stores were closed, whether those closures occurred in\nthe current period or the comparative period.\n\nReconciliation of Non-IFRS Measures\n\nThe tables below reconcile net loss to adjusted EBIT, adjusted EBITDA,\nadjusted net loss attributable to shareholders of the Company for the periods\nindicated, constant currency revenue to revenue across segments and\ngeographies, and net debt for purposes of presenting its calculation.\n   First quarter ended \n CAD $ millions June 28,   June 29, \n \n2026 \n2025 \n Net loss (unaudited) (93.0 )   (125.5 ) \n Add (deduct) the impact of:       \n Income tax recovery (31.9 )   (38.6 ) \n Net interest, finance and other costs 21.1     5.4   \n Operating loss (103.8 )   (158.7 ) \n Arbitration award (a) —     43.8   \n Paola Confectii Earn-Out costs (b) —     8.5   \n Total adjustments —     52.3   \n Adjusted EBIT (103.8 )   (106.4 ) \n Adjusted EBIT margin (87.3 )%   (98.7 )% \n\n   First quarter ended \n CAD $ millions June 28,   June 29, \n \n2026 \n2025 \n Net loss (unaudited) (93.0 )   (125.5 ) \n Add (deduct) the impact of:       \n Income tax recovery (31.9 )   (38.6 ) \n Net interest, finance and other costs 21.1     5.4   \n Operating loss (103.8 )   (158.7 ) \n Arbitration award (a) —     43.8   \n Paola Confectii Earn-Out costs (b) —     8.5   \n Depreciation and amortization (e) 36.1     31.2   \n Total adjustments 36.1     83.5   \n Adjusted EBITDA (67.7 )   (75.2 ) \n\n   First quarter ended \n CAD $ millions June 28,   June 29, \n \n2026 \n2025 \n Net loss (unaudited)   (93.0 )     (125.5 ) \n Add (deduct) the impact of:       \n Arbitration award (a)   —       43.8   \n Paola Confectii Earn-Out costs (b)   —       8.5   \n Acceleration of unamortized costs on debt extinguishment (g)   6.0       —   \n Japan Joint Venture remeasurement loss on contingent consideration and put   2.3       1.0   \n option (c) \n Unrealized foreign exchange loss (gain) on term loan facility (d)   0.9       (3.5 ) \n     9.2       49.8   \n Tax effect of adjustments   (1.6 )     (12.0 ) \n Adjusted net loss   (85.4 )     (87.7 ) \n Adjusted net loss attributable to non-controlling interest (f)   (1.1 )     (0.5 ) \n Adjusted net loss attributable to shareholders of the Company   (86.5 )     (88.2 ) \n         \n Weighted average number of shares outstanding   97,313,923       96,913,707   \n Adjusted net loss per basic and diluted share attributable to shareholders of $ (0.89 )   $ (0.91 ) \n the Company \n\n (a) During the first quarter ended June 29, 2025, an arbitral decision was \n rendered in respect of an arbitration proceeding that took place in fiscal \n 2024 between the Company and a former supplier of the Company in connection \n with a previously announced commercial dispute relating to the termination of \n a contract in 2021. The arbitration resulted in an unfavourable judgment \n against the Company with financial compensation to be awarded to the former \n supplier. As a result, the Company was required to make a one-time payment to \n the former supplier of USD32.0m ($43.8m), inclusive of legal costs, which was \n recognized in SG&A expenses in the interim statements of loss and was paid \n to the former supplier during the second quarter of fiscal 2026. \n (b) Value of the Earn-Out, which was paid in fiscal 2026. \n (c) Changes to the fair value remeasurement of the contingent consideration and \n put option liability, inclusive of translation gains and losses, related to \n the Company’s joint venture with Sazaby League (“Japan Joint Venture”). \n The Company recorded a loss of $2.3m on the fair value remeasurement of the \n contingent consideration and put option during the first quarter ended June \n 28, 2026 (first quarter ended June 29, 2025 - a loss of $1.0m). These losses \n are included in net interest, finance and other costs within the interim \n statements of loss. \n (d) Unrealized gains and losses on the translation of the term loan facility from \n USD to CAD, net of the effect of derivative transactions entered into to hedge \n a portion of the exposure to foreign currency exchange risk. These costs are \n included in net interest, finance and other costs within the interim \n statements of loss. \n (e) Calculated as depreciation and amortization as determined in accordance with \n IFRS Accounting Standards. Depreciation and amortization includes depreciation \n on right-of-use assets under IFRS 16, Leases. \n (f) Calculated as net loss attributable to non-controlling interest within the \n interim statements of loss of $(1.1)m for the put option liability and \n contingent consideration revaluation related to the non-controlling interest \n within the Japan Joint Venture for the first quarter ended June 28, 2026 \n (first quarter ended June 29, 2025 - net loss attributable to non-controlling \n interest of $(0.5)m). \n (g) The non-cash unamortized costs accelerated in connection with the debt \n extinguishment due to the Fiscal 2027 Amendment to Term Loan. \n\n Revenue by Segment \n   First quarter ended   $ Change   % Change \n CAD $ millions June 28, 2026 (unaudited)   June 29,   As reported   Foreign exchange impact   In constant currency   As reported   In constant currency \n \n2025 \n DTC 84.8   78.1   6.7     (1.5 )   5.2     8.6 %   6.7 % \n Wholesale 29.8   17.9   11.9     (0.2 )   11.7     66.5 %   65.4 % \n Other 4.3   11.8   (7.5 )   (0.1 )   (7.6 )   (63.6 )%   (64.4 )% \n Total revenue 118.9   107.8   11.1     (1.8 )   9.3     10.3 %   8.6 % \n\n\nRevenue by Geography\n   First quarter ended   $ Change   % Change \n CAD $ millions June 28, 2026 (unaudited)   June 29,   As reported   Foreign exchange impact   In constant currency   As reported   In constant currency \n \n2025 \n Canada 27.0   24.4   2.6     —     2.6     10.7 %   10.7 % \n United States 21.8   26.9   (5.1 )   (0.4 )   (5.5 )   (19.0 )%   (20.4 )% \n North America 48.8   51.3   (2.5 )   (0.4 )   (2.9 )   (4.9 )%   (5.7 )% \n Greater China(1) 37.5   26.0   11.5     (1.2 )   10.3     44.2 %   39.6 % \n Asia Pacific (excluding Greater China(1)) 16.1   13.0   3.1     0.1     3.2     23.8 %   24.6 % \n Asia Pacific 53.6   39.0   14.6     (1.1 )   13.5     37.4 %   34.6 % \n EMEA(2) 16.5   17.5   (1.0 )   (0.3 )   (1.3 )   (5.7 )%   (7.4 )% \n Total revenue 118.9   107.8   11.1     (1.8 )   9.3     10.3 %   8.6 % \n\n 1 Greater China comprises Mainland China, Hong Kong, Macau, and Taiwan. \n 2 EMEA comprises Europe, the Middle East, Africa, and Latin America. \n\n Indebtedness \n CAD $ millions June 28, 2026   June 29,   $ \n \n(unaudited) \n2025 \n \n \nChange \n Cash 206.9     180.5     26.4   \n Mainland China credit facilities (0.5 )   —     (0.5 ) \n Japan credit facility (12.3 )   (8.5 )   (3.8 ) \n Term loan facility (424.8 )   (393.0 )   (31.8 ) \n Lease liabilities (397.1 )   (320.7 )   (76.4 ) \n Net debt (627.8 )   (541.7 )   (86.1 ) \n\n ____________________ \n (1) Constant currency revenue is a non-IFRS financial measure. See “Non-IFRS Financial Measures and Other Specified Financial Measures” for more information. \n (2) Adjusted EBIT, adjusted EBITDA, adjusted net loss attributable to shareholders of the Company, and net debt are non-IFRS financial measures, and adjusted EBIT margin, adjusted net loss per basic and diluted share attributable to the shareholders of the Company, and net debt leverage are non-IFRS financial ratios. See “Non-IFRS Financial Measures and Other Specified Financial Measures” for more information. \n (3) DTC comparable sales (decline) growth is a supplementary financial measure. See “Non-IFRS Financial Measures and Other Specified Financial Measures” for a description of this measure. \n (4) A copy of our fiscal 2026 Impact Report can be accessed on Canada Goose’s website at \n www.canadagoose.com (https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.canadagoose.com&esheet=54579544&newsitemid=20260730127597&lan=en-US&anchor=www.canadagoose.com&index=6&md5=4308fc793db9337e02f1d295303c2c86) \n . \n (5) Comparisons to first quarter ended June 29, 2025. \n\n\n \n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20260730127597/en/\n(https://www.businesswire.com/news/home/20260730127597/en/)\n\nInvestors: ir@canadagoose.com \n(mailto:ir@canadagoose.com) \nMedia: media@canadagoose.com (mailto:media@canadagoose.com)\n\n\nCopyright Business Wire 2026","article_body_html":"","raw_payload":{"data":{"id":"nBw9NVsbsa","title":"Canada Goose Reports First Quarter Fiscal 2027 Results","author":"Business Wire","ticker":"GOOS","created":"2026-07-30T10:45:00.223Z","tickers":["GOOS"],"exchange":"TSX","article_body":"Canada Goose Reports First Quarter Fiscal 2027 Results\n\n\n * Delivered revenue of $118.9m, an increase of 10.3% on a reported basis (up\n8.6% on a constant currency basis(1)) versus the prior year\n\n\n * Expanded adjusted EBIT margin(2) to (87.3)% from (98.7)% in the same period\nlast year driven by gross margin expansion and SG&A leverage, reducing\noperating loss and adjusted EBIT(2) to $(103.8)m\n\n\n * DTC comparable sales decline(3) was 3.2% in the first quarter, reflecting\nlower store comparable sales, partially offset by double-digit e-commerce\ngrowth across all regions\n\n\n * Maintained strong balance sheet and healthy inventory position, with inventory\nturns increasing 11% year-over-year to 1.0x sales\n\nCanada Goose Holdings Inc. (NYSE, TSX: GOOS) announced today financial results\nfor the first quarter ended June 28, 2026. All amounts are in Canadian dollars\nunless otherwise indicated.\n\n“Our first quarter is another proof point that our strategy is working,”\nsaid Dani Reiss, Chairman & CEO of Canada Goose. “We’re successfully\nevolving Canada Goose into a year-round luxury brand, with customers engaging\nacross more seasons and categories. We expanded gross margin, improved\nprofitability, and deepened engagement around the world. Together, those\nresults are building a stronger, more productive, and more profitable\nbusiness.”\n\nFirst Quarter Fiscal 2027 Business Highlights\n\nIn the first quarter, we advanced initiatives across product, brand, and\nchannels that are strengthening our operating model and positioning the\nbusiness for sustainable long-term growth.\n\n\n * Continued to expand year-round relevance with Apparel, Rainwear, and Windwear\nincreasing their contribution to total revenue, supporting customer\nacquisition and driving engagement beyond traditional winter categories.\n\n * Expanded brand visibility through our Spring/Summer '26 marketing campaigns,\nstrengthening customer acquisition and expanding brand reach through a more\ndisciplined mix of performance and brand-building investments, including our\nSnow Goose spring capsule and Natural Intelligence summer collection brand\ncampaigns.\n\n * Further strengthened our DTC operating model, with improvements in conversion\nand average order value, reflecting continued focus on delivering greater\nvalue from our retail network. In our first quarter, we opened four net new\nstores, bringing our store count to 92 as of the end of our first quarter.\n\n * Subsequent to our first quarter, we published our fiscal 2026 Impact\nReport(4), showcasing the progress of our sustainability impact strategy,\nincluding a 50% reduction in Scope 1 and Scope 2 emissions from our fiscal\n2019 baseline.\n\nFirst Quarter Financial Highlights(5)\n\nAll Year-Over-Year Comparisons Unless Otherwise Noted\n\n\n * Total revenue increased 10.3% to $118.9m, up 8.6% on a constant currency\nbasis(1).\n\n\n* DTC revenue increased 8.6% to $84.8m, or up 6.7% on a constant currency\nbasis(1) due to stronger performance in Asia Pacific and North America. DTC\ncomparable sales decline(3) was 3.2% primarily reflected softer store\ncomparable sales, partially offset by double-digit e-commerce growth.\n\n * Wholesale revenue increased 66.5% to $29.8m, or 65.4% on a constant currency\nbasis(1 )driven by shipping a larger planned wholesale order book, stronger\nin-season orders from wholesale partners, and shipment timing.\n\n * Other revenue decreased 63.6% to $4.3m, or 64.4% on a constant currency\nbasis(1) as a result of minimal friends and family activity in the United\nStates compared to the same prior year period.\n\n\n\n\n * Gross profit increased 12.1% to $74.2m due to higher revenue. Gross margin was\n62.4% compared to 61.4% in the first quarter of fiscal 2026, reflecting\nfavourable channel mix and region mix.\n\n * Selling, general and administrative (SG&A) expenses were $178.0m, compared\nto $224.9m in the prior year period. The decrease is primarily due to\nnon-recurrence of an arbitration award payment and an earn-out associated with\nour European knitwear manufacturer recognized in the prior year period.\n\n * Operating loss was $(103.8)m, compared to operating loss of $(158.7)m in the\nprior year period, attributable to higher gross profit and lower SG&A\nexpenses.\n\n * Net loss attributable to shareholders was $(90.8)m, or $(0.93) per basic and\ndiluted share, compared with a net loss attributable to shareholders of\n$(125.2)m, or $(1.29) per basic and diluted share in the prior year period.\n\n * Adjusted EBIT(2) was $(103.8)m, compared to $(106.4)m in the prior year\nperiod. Adjusted EBIT margin(2) was (87.3)%, compared to (98.7)% in the prior\nyear period.\n\n * Adjusted net loss attributable to shareholders(2) was $(86.5)m, or $(0.89) per\nbasic and diluted share, compared with an adjusted net loss attributable to\nshareholders of $(88.2)m, or $(0.91) per basic and diluted share in the prior\nyear period.\n\nBalance Sheet Highlights\n\nInventory of $489.9m for the first quarter ended June 28, 2026 was up 11%\nyear-over-year, primarily reflecting an expanded product assortment, a larger\nwholesale order book, and planned production growth to support anticipated\ndemand for Fall/Winter '26.\n\nThe Company ended the first quarter of fiscal 2027 with net debt(2) of\n$627.8m, compared to $541.7m at the end of the first quarter of fiscal 2026,\nwith net debt leverage of 2.1 times adjusted EBITDA, compared to 1.8 times\nadjusted EBITDA in the same period last year. This increase was mainly due to\nan increase in lease liabilities.\n\nFiscal 2027 Outlook\n\nThis outlook constitutes forward-looking information within the meaning of\napplicable securities laws. The purpose of this outlook is to provide a\ndescription of management's expectations regarding the Company's annual\nfinancial performance and may not be appropriate for other purposes. Actual\nresults could vary materially as a result of numerous factors, including\ncertain risk factors, many of which are beyond the Company’s control. Please\nsee Cautionary Note Regarding \"Forward Looking Statements\" below for more\ninformation.\n\nBased on our current visibility into the business and the progress of\ninitiatives already underway, we reiterate our fiscal 2027 outlook as set\nforth below. Our outlook reflects our current assessment of operating\nconditions, underlying demand trends, and the level of execution we believe is\nachievable.\n\nFor fiscal 2027, we expect:\n\n\n * Revenue to increase approximately low-single digits compared to the prior\nyear.\n\n * Adjusted EBIT margin(2) to be in the range of 11% to 12%.\n\nOur outlook assumes:\n\n\n * Revenue growth is driven by pricing actions already implemented, increased\ndepth in our product assortment, a larger wholesale order book, and new store\nopenings, partially offset by lower consumer demand relative to fiscal 2026,\nincluding softer traffic in key markets, reduced consumer confidence, and\nlower travel.\n\n * Gross margin expands, reflecting the benefit of pricing actions and\noperational efficiencies embedded in fiscal 2026 production and favourable\nchannel mix, partially offset by product mix, raw material inflation, and\nsupply chain cost pressures from current disruptions\n\n * SG&A declines as a percentage of revenue, as we balance disciplined cost\nmanagement with targeted investments across channels, marketing, and\ntechnology, driving operating leverage on a consolidated basis.\n\n * No material impact from U.S. duties announced on July 20, 2026, and which are\ncurrently stated to come into effect on August 19, 2026. Such duties, if and\nwhen in effect, would currently be expected to apply to a broad range of\nCanadian and other goods globally, including goods qualifying under the\nCanada-United States-Mexico Agreement (CUSMA) such as certain of the\nCompany’s products. Considering, among other things, the rapidly evolving\nCanada/U.S. trade environment and developments that may occur before or after\nsuch stated effective date, the extent to which such duties, together with any\nrelated retaliatory measures or further changes in trade policy, will affect\nthe Company and impact its business and results of operations, remains\nuncertain.\n\nConference Call Information\n\nThe Company will host the conference call at 8:30 a.m. EDT on July 30, 2026.\nThe conference call can be accessed by using the following link:\nhttps://events.q4inc.com/attendee/994265778\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fevents.q4inc.com%2Fattendee%2F994265778&esheet=54579544&newsitemid=20260730127597&lan=en-US&anchor=https%3A%2F%2Fevents.q4inc.com%2Fattendee%2F994265778&index=1&md5=adacc3ad18665f7ed348a4c2eec69405)\n. After registering, an email will be sent including dial-in details and a\nunique conference call pin required to join the live call. A live webcast of\nthe conference call will also be available on the investor relations page of\nthe Company's website at http://investor.canadagoose.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Finvestor.canadagoose.com&esheet=54579544&newsitemid=20260730127597&lan=en-US&anchor=http%3A%2F%2Finvestor.canadagoose.com&index=2&md5=c235ab77483f79f46b87bc4306c969af)\n.\n\nAbout Canada Goose\n\nCanada Goose is dedicated to empowering discovery and pushing boundaries in\ndesign, functionality, and style. Inspired by our Canadian heritage, we craft\nhigh-performance outerwear, apparel, footwear, and accessories that elevate\ncraftsmanship and embrace individuality. Rooted in resilience and driven by a\npioneering spirit, we embolden explorers to thrive in all environments while\npreserving the planet they roam. For more information, visit\nwww.canadagoose.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.canadagoose.com&esheet=54579544&newsitemid=20260730127597&lan=en-US&anchor=www.canadagoose.com&index=3&md5=63313ac3945b65a5ab973020ddb93fb2)\n.\n\nCautionary Note Regarding Forward-Looking Statements\n\nThis press release contains forward-looking statements within the meaning of\napplicable securities laws, including statements relating to our fiscal 2027\nfinancial outlook, the related assumptions included herein including\ndevelopments relating to the U.S. duties announced on July 20, 2026 and their\nimpacts, the execution of our proposed sustainability strategies, emission and\nenergy consumption and targets, business strategy and our expected operating\nperformance and prospects. These forward-looking statements generally can be\nidentified by the use of words such as “believe,” “could,”\n“continue,” “expect,” “estimate,” “may,” “potential,”\n“would,” “will,” and other words of similar meaning. Each\nforward-looking statement contained in this press release is subject to\nsubstantial risks and uncertainties that could cause actual results to differ\nmaterially from those expressed or implied by such statement. Applicable risks\nand uncertainties include, among others, the impact on our operations of the\ncurrent global economic conditions and international trade environment and\ntheir evolution, including developments relating to the U.S. duties announced\non July 20, 2026 and their impacts as further discussed herein, as well as the\nother risk factors that are discussed under “Cautionary Note Regarding\nForward-Looking Statements” and “Factors Affecting Our Performance” in\nour Management’s Discussion and Analysis (“MD&A”) for the year ended\nMarch 29, 2026 and for the first quarter ended June 28, 2026, as well as under\n“Risk Factors” in our Annual Report on Form 20-F for the year ended March\n29, 2026. In respect of our sustainability strategies and emission targets,\nrisks and uncertainties also include scientific or technological developments,\nevolving sustainability strategies, changes in carbon markets, and evolving\ngovernment regulations or changes in circumstances of our business. You are\nalso encouraged to read our filings with the SEC, available at www.sec.gov\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.sec.gov&esheet=54579544&newsitemid=20260730127597&lan=en-US&anchor=www.sec.gov&index=4&md5=702bc56848900308fcf96043a6d9d8dd)\n, and our filings with Canadian securities regulatory authorities available on\nSEDAR+ at www.sedarplus.ca\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.sedarplus.ca&esheet=54579544&newsitemid=20260730127597&lan=en-US&anchor=www.sedarplus.ca&index=5&md5=cd41bd2b06868438345544a430fe57d8)\nfor a discussion of these and other risks and uncertainties. Investors,\npotential investors, and others should give careful consideration to these\nrisks and uncertainties. We caution investors not to rely on the\nforward-looking statements contained in this press release when making an\ninvestment decision in our securities.\n\nAlthough we base the forward-looking statements contained in this press\nrelease on assumptions that we believe are reasonable, we caution readers that\nactual results and developments (including our results of operations,\nfinancial condition and liquidity, the achievement of our targets, goals and\ncommitments (including our emission targets), and the development of the\nindustry in which we operate) may differ materially from those made in or\nsuggested by the forward-looking statements contained in this press release.\nAdditional impacts may arise that we are not aware of currently. The potential\nof such additional impacts intensifies the business and operating risks which\nwe face, and these should be considered when reading the forward-looking\nstatements contained in this press release. In addition, even if results and\ndevelopments are consistent with the forward-looking statements contained in\nthis press release, those results and developments may not be indicative of\nresults or developments in subsequent periods. As a result, any or all of our\nforward-looking statements in this press release may prove to be inaccurate.\nNo forward-looking statement is a guarantee of future results. Moreover, we\noperate in a highly competitive and rapidly changing environment in which new\nrisks often emerge. It is not possible for our management to predict all\nrisks, nor can we assess the impact of all factors on our business or the\nextent to which any factor, or combination of factors, may cause actual\nresults to differ materially from those contained in any forward-looking\nstatements we may make. Consequently, all of the forward-looking information\ncontained herein is qualified by the foregoing cautionary statements. You\nshould read this press release and the documents that we reference herein\ncompletely and with the understanding that our actual future results may be\nmaterially different from what we expect. The forward-looking statements\ncontained herein are made as of the date of this press release (or as of the\ndate specifically indicated therein), and we do not assume any obligation to\nupdate any forward-looking statements except as required by applicable laws.\n Condensed Consolidated Interim Statements of Loss \n \n \n \n(in millions of Canadian dollars, except per share amounts) (unaudited) \n   First quarter ended \n   June 28, June 29, \n \n2026 \n2025 \n   $ $ \n Revenue   118.9     107.8   \n Cost of sales   44.7     41.6   \n Gross profit   74.2     66.2   \n Selling, general & administrative expenses   178.0     224.9   \n Operating loss   (103.8 )   (158.7 ) \n Net interest, finance and other costs   21.1     5.4   \n Loss before income taxes   (124.9 )   (164.1 ) \n Income tax recovery   (31.9 )   (38.6 ) \n Net loss   (93.0 )   (125.5 ) \n       \n Attributable to:     \n Shareholders of the Company   (90.8 )   (125.2 ) \n Non-controlling interest   (2.2 )   (0.3 ) \n Net loss   (93.0 )   (125.5 ) \n       \n Loss per share attributable to shareholders of the Company     \n Basic and diluted(1) $ (0.93 ) $ (1.29 ) \n\n 1 Subordinate voting shares issuable on exercise of stock options are not \n treated as dilutive if including them would decrease the loss per share or if \n the average daily closing share price for the period was greater than the \n exercise price. Accordingly, for the first quarter ended June 28, 2026, \n 2,276,282 potentially dilutive shares have been excluded from the calculation \n of diluted loss per share because their effect was anti-dilutive (for the \n first quarter ended June 29, 2025 - 1,544,848 shares.) \n\n Condensed Consolidated Interim Statements of Comprehensive Loss \n \n \n \n(in millions of Canadian dollars, except per share amounts) (unaudited) \n   First quarter ended \n   June 28, June 29, \n \n2026 \n2025 \n   $ $ \n Net loss (93.0 ) (125.5 ) \n       \n Other comprehensive loss     \n Items that will not be reclassified to earnings, net of tax:     \n Actuarial loss on post-employment obligation (0.2 ) —   \n Items that may be reclassified to earnings, net of tax:     \n Cumulative translation adjustment gain 3.5   13.1   \n Net loss on derivatives designated as cash flow hedges (1.7 ) (1.7 ) \n Reclassification of net loss on cash flow hedges to income —   0.1   \n Other comprehensive income 1.6   11.5   \n Comprehensive loss (91.4 ) (114.0 ) \n       \n Attributable to:     \n Shareholders of the Company (89.4 ) (113.5 ) \n Non-controlling interest (2.0 ) (0.5 ) \n Comprehensive loss (91.4 ) (114.0 ) \n\n Condensed Consolidated Interim Statements of Financial Position \n \n \n \n(in millions of Canadian dollars) (unaudited) \n   June 28, June 29, March 29, \n \n2026 \n2025 \n2026 \n   $ $ $ \n     Reclassified Reclassified \n Assets       \n Current assets       \n Cash 206.9 180.5 408.2 \n Trade receivables 86.6 73.1 108.4 \n Inventories 489.9 439.5 386.3 \n Income taxes receivable 19.5 31.6 19.9 \n Other current assets 35.3 59.0 45.6 \n Total current assets 838.2 783.7 968.4 \n         \n Deferred income taxes 102.7 114.6 76.9 \n Property, plant and equipment 162.8 153.7 161.5 \n Intangible assets 127.3 130.9 127.9 \n Right-of-use assets 353.5 274.4 332.1 \n Goodwill 71.1 72.0 71.1 \n Other long-term assets 36.7 1.2 15.3 \n Total assets 1,692.3 1,530.5 1,753.2 \n         \n Liabilities       \n Current liabilities       \n Accounts payable and accrued liabilities 205.0 236.9 214.0 \n Provisions 37.5 35.7 45.8 \n Income taxes payable 5.8 19.2 11.7 \n Short-term borrowings 17.1 12.6 4.2 \n Current portion of lease liabilities 94.3 84.2 92.8 \n Total current liabilities 359.7 388.6 368.5 \n         \n Provisions 20.0 16.3 19.0 \n Deferred income taxes 5.3 11.8 11.0 \n Term Loan 419.2 388.6 406.4 \n Lease liabilities 302.8 236.5 281.8 \n Other long-term liabilities 42.0 42.1 38.7 \n Total liabilities 1,149.0 1,083.9 1,125.4 \n         \n Equity       \n Equity attributable to shareholders of the Company 525.9 431.7 608.4 \n Non-controlling interests 17.4 14.9 19.4 \n Total equity 543.3 446.6 627.8 \n Total liabilities and equity 1,692.3 1,530.5 1,753.2 \n\n Condensed Consolidated Interim Statements of Cash Flows \n \n \n \n(in millions of Canadian dollars) (unaudited) \n   First quarter ended \n   June 28, June 29, \n \n2026 \n2025 \n   $ $ \n     Reclassified \n Operating activities     \n Net loss (93.0 ) (125.5 ) \n Items not affecting cash:     \n Depreciation and amortization 36.1   31.2   \n Income tax recovery (31.9 ) (38.6 ) \n Interest expense 13.3   4.4   \n Foreign exchange gain (1.8 ) (3.4 ) \n Acceleration of unamortized costs on debt extinguishment 6.0   —   \n (Gain) loss on disposal of assets (0.9 ) 0.2   \n Share-based payment 5.1   4.1   \n Arbitration award —   43.8   \n Remeasurement of put option 1.8   1.1   \n Remeasurement of contingent consideration —   (0.1 ) \n   (59.3 ) (82.8 ) \n Changes in non-cash operating items (105.3 ) (30.0 ) \n Income taxes paid (7.0 ) (22.3 ) \n Interest paid (13.1 ) (8.5 ) \n Net cash used in operating activities (184.7 ) (143.6 ) \n Investing activities     \n Purchase of property, plant and equipment (4.7 ) (0.5 ) \n Net cash used in investing activities (4.7 ) (0.5 ) \n Financing activities     \n Mainland China Facilities borrowings 0.5   —   \n Japan Facility borrowings 12.3   8.5   \n Revolving Facility repayments —   (1.1 ) \n Term Loan repayments (1.0 ) —   \n Transaction costs on financing activities (1.3 ) —   \n Principal payments on lease liabilities (22.7 ) (19.4 ) \n Issuance of shares 1.7   —   \n Net cash used in financing activities (10.5 ) (12.0 ) \n Effects of foreign currency exchange rate changes on cash 4.6   2.2   \n Decrease in cash (195.3 ) (153.9 ) \n Cash, beginning of period 408.2   334.4   \n Cash, end of period 212.9   180.5   \n\n\nNon-IFRS Financial Measures and Other Specified Financial Measures\n\nThis press release includes references to certain non-IFRS financial measures\nsuch as adjusted EBIT, adjusted EBITDA, adjusted net loss attributable to\nshareholders of the Company, net debt, and constant currency revenue and\ncertain non-IFRS ratios such as adjusted EBIT margin, adjusted net loss per\nbasic and diluted share attributable to the shareholders of the Company and\nnet debt leverage. These financial measures are employed by the Company to\nmeasure its operating and economic performance and to assist in business\ndecision-making, as well as providing key performance information to senior\nmanagement. The Company believes that, in addition to conventional measures\nprepared in accordance with IFRS Accounting Standards, certain investors and\nanalysts use this information to evaluate the Company’s operating and\nfinancial performance. These financial measures are not defined under IFRS\nAccounting Standards nor do they replace or supersede any standardized measure\nunder IFRS Accounting Standards. Other companies in our industry may calculate\nthese measures differently than we do, limiting their usefulness as\ncomparative measures. Additional information, including definitions and\nreconciliations of non-IFRS financial measures to the nearest IFRS financial\nmeasure can be found in our MD&A for the first quarter ended June 28,\n2026, under “Non-IFRS Financial Measures and Other Specified Financial\nMeasures”. Such reconciliations can also be found in this press release\nunder “Reconciliation of Non-IFRS Measures” below.\n\nThis press release also includes references to DTC comparable sales (decline)\ngrowth which is a supplementary financial measure defined as a rate of\n(decline) growth of sales on a constant currency basis from e-Commerce sites\nand stores which have been operating for one full year (12 successive fiscal\nmonths). The measure excludes store sales from both periods for the specific\ntrading days when the stores were closed, whether those closures occurred in\nthe current period or the comparative period.\n\nReconciliation of Non-IFRS Measures\n\nThe tables below reconcile net loss to adjusted EBIT, adjusted EBITDA,\nadjusted net loss attributable to shareholders of the Company for the periods\nindicated, constant currency revenue to revenue across segments and\ngeographies, and net debt for purposes of presenting its calculation.\n   First quarter ended \n CAD $ millions June 28,   June 29, \n \n2026 \n2025 \n Net loss (unaudited) (93.0 )   (125.5 ) \n Add (deduct) the impact of:       \n Income tax recovery (31.9 )   (38.6 ) \n Net interest, finance and other costs 21.1     5.4   \n Operating loss (103.8 )   (158.7 ) \n Arbitration award (a) —     43.8   \n Paola Confectii Earn-Out costs (b) —     8.5   \n Total adjustments —     52.3   \n Adjusted EBIT (103.8 )   (106.4 ) \n Adjusted EBIT margin (87.3 )%   (98.7 )% \n\n   First quarter ended \n CAD $ millions June 28,   June 29, \n \n2026 \n2025 \n Net loss (unaudited) (93.0 )   (125.5 ) \n Add (deduct) the impact of:       \n Income tax recovery (31.9 )   (38.6 ) \n Net interest, finance and other costs 21.1     5.4   \n Operating loss (103.8 )   (158.7 ) \n Arbitration award (a) —     43.8   \n Paola Confectii Earn-Out costs (b) —     8.5   \n Depreciation and amortization (e) 36.1     31.2   \n Total adjustments 36.1     83.5   \n Adjusted EBITDA (67.7 )   (75.2 ) \n\n   First quarter ended \n CAD $ millions June 28,   June 29, \n \n2026 \n2025 \n Net loss (unaudited)   (93.0 )     (125.5 ) \n Add (deduct) the impact of:       \n Arbitration award (a)   —       43.8   \n Paola Confectii Earn-Out costs (b)   —       8.5   \n Acceleration of unamortized costs on debt extinguishment (g)   6.0       —   \n Japan Joint Venture remeasurement loss on contingent consideration and put   2.3       1.0   \n option (c) \n Unrealized foreign exchange loss (gain) on term loan facility (d)   0.9       (3.5 ) \n     9.2       49.8   \n Tax effect of adjustments   (1.6 )     (12.0 ) \n Adjusted net loss   (85.4 )     (87.7 ) \n Adjusted net loss attributable to non-controlling interest (f)   (1.1 )     (0.5 ) \n Adjusted net loss attributable to shareholders of the Company   (86.5 )     (88.2 ) \n         \n Weighted average number of shares outstanding   97,313,923       96,913,707   \n Adjusted net loss per basic and diluted share attributable to shareholders of $ (0.89 )   $ (0.91 ) \n the Company \n\n (a) During the first quarter ended June 29, 2025, an arbitral decision was \n rendered in respect of an arbitration proceeding that took place in fiscal \n 2024 between the Company and a former supplier of the Company in connection \n with a previously announced commercial dispute relating to the termination of \n a contract in 2021. The arbitration resulted in an unfavourable judgment \n against the Company with financial compensation to be awarded to the former \n supplier. As a result, the Company was required to make a one-time payment to \n the former supplier of USD32.0m ($43.8m), inclusive of legal costs, which was \n recognized in SG&A expenses in the interim statements of loss and was paid \n to the former supplier during the second quarter of fiscal 2026. \n (b) Value of the Earn-Out, which was paid in fiscal 2026. \n (c) Changes to the fair value remeasurement of the contingent consideration and \n put option liability, inclusive of translation gains and losses, related to \n the Company’s joint venture with Sazaby League (“Japan Joint Venture”). \n The Company recorded a loss of $2.3m on the fair value remeasurement of the \n contingent consideration and put option during the first quarter ended June \n 28, 2026 (first quarter ended June 29, 2025 - a loss of $1.0m). These losses \n are included in net interest, finance and other costs within the interim \n statements of loss. \n (d) Unrealized gains and losses on the translation of the term loan facility from \n USD to CAD, net of the effect of derivative transactions entered into to hedge \n a portion of the exposure to foreign currency exchange risk. These costs are \n included in net interest, finance and other costs within the interim \n statements of loss. \n (e) Calculated as depreciation and amortization as determined in accordance with \n IFRS Accounting Standards. Depreciation and amortization includes depreciation \n on right-of-use assets under IFRS 16, Leases. \n (f) Calculated as net loss attributable to non-controlling interest within the \n interim statements of loss of $(1.1)m for the put option liability and \n contingent consideration revaluation related to the non-controlling interest \n within the Japan Joint Venture for the first quarter ended June 28, 2026 \n (first quarter ended June 29, 2025 - net loss attributable to non-controlling \n interest of $(0.5)m). \n (g) The non-cash unamortized costs accelerated in connection with the debt \n extinguishment due to the Fiscal 2027 Amendment to Term Loan. \n\n Revenue by Segment \n   First quarter ended   $ Change   % Change \n CAD $ millions June 28, 2026 (unaudited)   June 29,   As reported   Foreign exchange impact   In constant currency   As reported   In constant currency \n \n2025 \n DTC 84.8   78.1   6.7     (1.5 )   5.2     8.6 %   6.7 % \n Wholesale 29.8   17.9   11.9     (0.2 )   11.7     66.5 %   65.4 % \n Other 4.3   11.8   (7.5 )   (0.1 )   (7.6 )   (63.6 )%   (64.4 )% \n Total revenue 118.9   107.8   11.1     (1.8 )   9.3     10.3 %   8.6 % \n\n\nRevenue by Geography\n   First quarter ended   $ Change   % Change \n CAD $ millions June 28, 2026 (unaudited)   June 29,   As reported   Foreign exchange impact   In constant currency   As reported   In constant currency \n \n2025 \n Canada 27.0   24.4   2.6     —     2.6     10.7 %   10.7 % \n United States 21.8   26.9   (5.1 )   (0.4 )   (5.5 )   (19.0 )%   (20.4 )% \n North America 48.8   51.3   (2.5 )   (0.4 )   (2.9 )   (4.9 )%   (5.7 )% \n Greater China(1) 37.5   26.0   11.5     (1.2 )   10.3     44.2 %   39.6 % \n Asia Pacific (excluding Greater China(1)) 16.1   13.0   3.1     0.1     3.2     23.8 %   24.6 % \n Asia Pacific 53.6   39.0   14.6     (1.1 )   13.5     37.4 %   34.6 % \n EMEA(2) 16.5   17.5   (1.0 )   (0.3 )   (1.3 )   (5.7 )%   (7.4 )% \n Total revenue 118.9   107.8   11.1     (1.8 )   9.3     10.3 %   8.6 % \n\n 1 Greater China comprises Mainland China, Hong Kong, Macau, and Taiwan. \n 2 EMEA comprises Europe, the Middle East, Africa, and Latin America. \n\n Indebtedness \n CAD $ millions June 28, 2026   June 29,   $ \n \n(unaudited) \n2025 \n \n \nChange \n Cash 206.9     180.5     26.4   \n Mainland China credit facilities (0.5 )   —     (0.5 ) \n Japan credit facility (12.3 )   (8.5 )   (3.8 ) \n Term loan facility (424.8 )   (393.0 )   (31.8 ) \n Lease liabilities (397.1 )   (320.7 )   (76.4 ) \n Net debt (627.8 )   (541.7 )   (86.1 ) \n\n ____________________ \n (1) Constant currency revenue is a non-IFRS financial measure. See “Non-IFRS Financial Measures and Other Specified Financial Measures” for more information. \n (2) Adjusted EBIT, adjusted EBITDA, adjusted net loss attributable to shareholders of the Company, and net debt are non-IFRS financial measures, and adjusted EBIT margin, adjusted net loss per basic and diluted share attributable to the shareholders of the Company, and net debt leverage are non-IFRS financial ratios. See “Non-IFRS Financial Measures and Other Specified Financial Measures” for more information. \n (3) DTC comparable sales (decline) growth is a supplementary financial measure. See “Non-IFRS Financial Measures and Other Specified Financial Measures” for a description of this measure. \n (4) A copy of our fiscal 2026 Impact Report can be accessed on Canada Goose’s website at \n www.canadagoose.com (https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.canadagoose.com&esheet=54579544&newsitemid=20260730127597&lan=en-US&anchor=www.canadagoose.com&index=6&md5=4308fc793db9337e02f1d295303c2c86) \n . \n (5) Comparisons to first quarter ended June 29, 2025. \n\n\n \n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20260730127597/en/\n(https://www.businesswire.com/news/home/20260730127597/en/)\n\nInvestors: ir@canadagoose.com \n(mailto:ir@canadagoose.com) \nMedia: media@canadagoose.com (mailto:media@canadagoose.com)\n\n\nCopyright Business Wire 2026"},"type":"article","timestamp":"2026-07-30T10:45:00.848179145Z","server_sent_at_ms":1785408300848},"received_at":"2026-07-30T10:45:00.912Z","source_url":"https://www.businesswire.com/news/home/20260730127597/en/"},"analysis":{"id":"92315","press_release_id":"103301","analysis_json":{"industry":{"label":"Textiles, Apparel & Luxury Goods","sector":"Consumer Discretionary"},"redFlags":["DTC comparable sales declined 3.2%","Net debt increased to $627.8m with leverage rising to 2.1x","Guidance for low-single-digit revenue growth indicates macro headwinds"],"eventType":"earnings","narrative":"Canada Goose reported Q1 revenue of $118.9 million, up 10.3% year-over-year, driven by a 66.5% surge in wholesale revenue and 37.4% growth in Asia Pacific.\n\nDespite the revenue beat, the company maintained a cautious fiscal 2027 outlook, forecasting only low-single-digit revenue growth due to softer consumer demand and reduced travel in key markets.\n\nOperating losses narrowed to $103.8 million from $158.7 million in the prior year, aided by lower SG&A expenses and gross margin expansion to 62.4%.\n\nNet debt increased to $627.8 million, with leverage rising to 2.1 times adjusted EBITDA, primarily due to an increase in lease liabilities.","sentiment":"mixed","agentHooks":{"shouldPost":false,"suggestedAngle":"Revenue beat and operational improvement offset by soft demand guidance."},"keyFigures":{"revenue":"$118.9m","guidance":"Fiscal 2027 revenue to increase low-single digits; Adjusted EBIT margin 11-12%","revenueYoy":"10.3%","customDimensions":{"net_debt":"$627.8m","net_loss":"$(90.8)m","inventory":"$489.9m","dtc_revenue":"$84.8m","gross_margin":"62.4%","gross_profit":"$74.2m","adjusted_ebit":"$(103.8)m","dtc_comp_sales":"-3.2%","operating_loss":"$(103.8)m","adjusted_net_loss":"$(86.5)m","wholesale_revenue":"$29.8m","adjusted_ebit_margin":"(87.3)%"}},"quotedText":"Our first quarter is another proof point that our strategy is working","namedEntities":{"people":[{"name":"Dani Reiss","role":"Chairman & CEO"}],"products":[],"companies":[{"name":"Canada Goose Holdings Inc.","ticker":"GOOS"}],"dollarAmounts":[{"amount":"$118.9m","context":"Q1 fiscal 2027 revenue"},{"amount":"$74.2m","context":"Q1 gross profit"},{"amount":"$(103.8)m","context":"Q1 operating loss"},{"amount":"$(90.8)m","context":"Q1 net loss attributable to shareholders"},{"amount":"$489.9m","context":"Q1 inventory"},{"amount":"$627.8m","context":"Q1 net debt"}]},"materialImpact":{"score":3,"reasoning":"Revenue exceeded prior year by 10.3% and operating losses narrowed significantly due to lower SG&A, reflecting better operational execution. However, the company maintained cautious full-year guidance for low-single-digit revenue growth, citing softer consumer demand and macro headwinds in key markets."},"tickerRelevance":{"others":[],"primary":"GOOS"},"globalImportance":25,"audienceRelevance":35,"eventTypeSecondary":["guidance_update"],"importanceComponents":{"tickerTier":"mid-cap","eventGravity":"earnings-beat-with-cautious-outlook","sectorWeight":"consumer-discretionary","brandRecognition":"household-luxury-brand"}},"event_type":"earnings","event_type_secondary":["guidance_update"],"sentiment":"mixed","material_impact_score":3,"narrative":"Canada Goose reported Q1 revenue of $118.9 million, up 10.3% year-over-year, driven by a 66.5% surge in wholesale revenue and 37.4% growth in Asia Pacific.\n\nDespite the revenue beat, the company maintained a cautious fiscal 2027 outlook, forecasting only low-single-digit revenue growth due to softer consumer demand and reduced travel in key markets.\n\nOperating losses narrowed to $103.8 million from $158.7 million in the prior year, aided by lower SG&A expenses and gross margin expansion to 62.4%.\n\nNet debt increased to $627.8 million, with leverage rising to 2.1 times adjusted EBITDA, primarily due to an increase in lease liabilities.","key_figures":{"revenue":"$118.9m","guidance":"Fiscal 2027 revenue to increase low-single digits; Adjusted EBIT margin 11-12%","revenueYoy":"10.3%","customDimensions":{"net_debt":"$627.8m","net_loss":"$(90.8)m","inventory":"$489.9m","dtc_revenue":"$84.8m","gross_margin":"62.4%","gross_profit":"$74.2m","adjusted_ebit":"$(103.8)m","dtc_comp_sales":"-3.2%","operating_loss":"$(103.8)m","adjusted_net_loss":"$(86.5)m","wholesale_revenue":"$29.8m","adjusted_ebit_margin":"(87.3)%"}},"named_entities":{"people":[{"name":"Dani Reiss","role":"Chairman & CEO"}],"products":[],"companies":[{"name":"Canada Goose Holdings Inc.","ticker":"GOOS"}],"dollarAmounts":[{"amount":"$118.9m","context":"Q1 fiscal 2027 revenue"},{"amount":"$74.2m","context":"Q1 gross profit"},{"amount":"$(103.8)m","context":"Q1 operating loss"},{"amount":"$(90.8)m","context":"Q1 net loss attributable to shareholders"},{"amount":"$489.9m","context":"Q1 inventory"},{"amount":"$627.8m","context":"Q1 net debt"}]},"model_name":"glm-4.7","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-07-30T12:14:19.992Z","global_importance":25,"audience_relevance":35,"importance_components":{"tickerTier":"mid-cap","eventGravity":"earnings-beat-with-cautious-outlook","sectorWeight":"consumer-discretionary","brandRecognition":"household-luxury-brand"}},"durationMs":186608,"modelName":"glm-4.7"}}