Canada Goose reports second-quarter loss despite higher revenue

Canada Goose jackets and clothing is on display at the Harry Rosen store in Toronto, Tuesday, Sept. 17, 2024. THE CANADIAN PRESS/Nathan Denette

TORONTO — Canada Goose Holdings Inc. shares sank on Thursday as the company swung to a net loss in its latest quarter. 

The luxury parka maker posted a $15.2 million loss attributable to shareholders for its second quarter, compared with a profit of $5.4 million a year ago, partly as it saw its expenses rise in the quarter. 

Its TSX-listed shares were down more than 18 per cent to $16.26 by mid-afternoon on Thursday.

Still, the company is feeling optimistic about its efforts to pivot to direct sales to customers even as its second-quarter revenue was relatively flat.

Direct-to-consumer sales amounted to $126.6 million, up from $103.9 million a year ago, while total revenue was $272.6 million, slightly up from $267.8 million a year ago. 

“It’s been such a big effort over the last 18 months and you’ve seen us quarter after quarter start to deliver on that,” said Carrie Baker, president of brand and commercial at the company. 

Baker said Canada Goose is working to maintain that momentum ahead of the peak winter season.

“The teams are well-trained, they’re ready for peak. We’ve got the inventory. And the newness we’re seeing — it’s not just that we’re broadening the assortment to more seasonally relevant … but it’s also newness and animation of some of our classics,” she told analysts during an earnings call on Thursday.

Baker said sales in Canada Goose’s iconic parka, Chilliwack, have been strong, and various versions of the jacket have been “flying” off the shelves.

Canada Goose has also extensively invested in pivoting to year-round clothing.

The loss amounted to 16 cents per share for the quarter ended Sept. 28, compared with a profit of six cents per share in the same quarter last year.

On an adjusted basis, it lost 14 cents per diluted share in its latest quarter compared with an adjusted profit of five cents per diluted share a year ago.

Wholesale revenue totalled $135.9 million, down from $137.3 million in the same quarter last year.

Other revenue totalled $10.1 million for the quarter, down from $26.6 million a year ago.

This report by The Canadian Press was first published Nov. 6, 2025.