On May 16th local time, luxury down jacket brand Canada Goose announced its fourth quarter and full year performance for the 2024 fiscal year as of March 31, 2024. In the past year, the brand's revenue increased by 10% year-on-year to 1.34 billion Canadian dollars; The net profit attributable to the parent company is 58.4 million Canadian dollars; Gross profit increased by 12.5% year-on-year to 917 million Canadian dollars; The gross profit margin reached 68.8%. Among them, in the fourth quarter, the brand's revenue increased by 22% year-on-year to 358 million Canadian dollars; The net profit attributable to the parent company is 5 million Canadian dollars.
Neil Bowden, Chief Financial Officer of Canada Goose, stated that the fourth quarter revenue growth was mainly driven by the Chinese market, with the region's revenue reaching CAD 128 million during the period, an increase of 29.7% from CAD 99 million in the same period last year. In addition, revenue in the Asia Pacific region, excluding the Chinese market, increased by 29.1% year-on-year to 19.5 million Canadian dollars; The North American market achieved a revenue of 153 million Canadian dollars, a year-on-year increase of 24.5%; EMEA's revenue increased by 1.6% year-on-year to CAD 57.3 million.
Based on its performance in the fiscal year 2024, Canada Goose is expected to experience low single digit growth in both revenue and retail sales in the fiscal year 2025. In addition, due to the brand's adjustment of wholesale strategy, Canada Goose expects its revenue from this business to decline by 20%.