If you are really looking to spoil someone this year, there is a jacket you might want to try.
But you’ll have to move fast as they are flying off Burnaby shelves.
Sales of Canada Goose Holdings Inc.'s luxury parkas are heating up - with the planned launch of footwear next week expected to send revenues skyrocketing.
In its latest quarterly earnings released Friday, the outerwear maker reported higher sales in retail stores and online, while early wholesale orders also pushed up revenue.
Canada Goose's second quarter revenue hit $232.9 million for the three months ended Sept. 26. That's nearly 20 per cent above $194.8 million for the same period last year, which had also included a $28.8 million bump in revenue from the temporary sale of personal protective equipment like masks.
Canada Goose jackets are sold all over Burnaby, including the Sporting Life at the Amazing Brentwood, plus Bay stores at Lougheed Town Centre and Metropolis at Metrotown.
The revenues also handily beat the $206.1 million analysts had expected, according to financial data firm Refinitiv.
"We see strong demand, positive leading indicators and we feel very good about the business heading into peak season," Dani Reiss, Canada Goose president and chief executive officer, told analysts during a conference call.
The company raised its financial outlook for the remainder of the year, with Reiss expressing confidence in Canada Goose's first-ever footwear collection.
"We're into our strongest selling season with the launch of an exciting ... new category," he said. "Canada Goose footwear is one of the most significant milestones in our more than six decade history."
- With reporting by The Canadian Press
