Canada Goose reported a revenue increase of 46.4 percent to C$591.2 million (€384.6m-$447.1m) for its fiscal year ended on March 31, as compared to fiscal 2017. On a constant-currency basis, the revenues increased by 47.7 percent. The company said the performance in fiscal 2018 was exceptional across all growth strategies and key metrics.
The net income for the year went up to C$96.1 million (€62.5m-$72.7m) from C$21.6 million in the previous fiscal year. The gross margin grew from 52.5 percent to 58.8 percent. This increase was primarily attributable to a greater proportion of direct-to-consumer revenues, partially offset by higher inventory provisions.
Wholesale revenues increased by 16.5 percent to C$336.2 million (€218.7m-$254.3m), driven by order book growth from existing accounts and higher re-order volumes late in the year. Direct-to-consumer (DTC) revenues jumped by 121.3 percent to C$255.0 million (€165.8m-$192.9m). The increase was driven by the strong performance of existing retail stores and e-commerce sites including a full year of operations for the company's stores in Toronto and New York City, as well as incremental revenues from four new retail stores and eight national e-commerce sites opened during the fiscal year. DTC revenues accounted for 43.1 percent of total revenues as compared to 28.5 percent in fiscal 2017.
For fiscal 2019, the Canadian maker of performance luxury apparel expects its revenues to grow by at least 20 percent, with growth at wholesale in the mid-single-digits on a percentage basis. The company also forecasts annual growth of at least 25 percent in adjusted net income per diluted share.
