Canada Goose Greater China revenue surges 44%, Asia-Pacific market surpasses North America

Canada Goose’s growth has shifted back toward the Chinese market.

On July 30, Canada Goose disclosed its fiscal 2027 first quarter results for the period ending June 28.

The company's revenue increased by 10.3% year-on-year to CAD 118.9 million, representing 8.6% growth at constant exchange rates, surpassing market expectations of CAD 108.8 million.

By channel, DTC revenue grew by 8.6% year-on-year to CAD 84.8 million, but comparable sales still declined by 3.2%. Same-store sales at offline stores remained weak, with only double-digit growth in e-commerce across regions partially offsetting the decline.

Wholesale business became another primary source of incremental growth. Revenue from this channel grew by 66.5% year-on-year to CAD 29.8 million, which the company attributed to expanded planned order sizes, increased replenishment by partners, and changes in the shipping schedule.

The Greater China region became Canada Goose’s main growth engine this quarter.

This quarter, revenue in the Greater China region grew by 44.2% year-on-year to CAD 37.5 million, or 39.6% at constant exchange rates; revenue in the Asia-Pacific market outside Greater China also increased by 23.8%.

Total revenue from the entire Asia-Pacific region reached CAD 53.6 million, already surpassing North America.

In contrast, revenue from the US market fell by 19%, dragging overall North American revenue down by 4.9%; revenue from Europe, the Middle East, and Africa declined by 5.7%.

The company stated that growth in the Chinese market was driven by both local consumption and tourism spending, and that spring/summer products such as lightweight jackets, t-shirts, and raincoats provided consumers with purchase opportunities outside the traditional down jacket sales season.

This continues Canada Goose’s recent direction toward year-round transformation. The company seeks to reduce dependence on cold weather and the autumn/winter peak season and expand the share of categories beyond core down products.

This spring and summer, Canada Goose continued to ramp up brand investment, launching the Snow Goose spring capsule collection, the 2026 summer series, and the “Nature Intelligence” brand platform, adopting a dual marketing strategy focused on both brand building and performance conversion.

Management stated that brand appeal continues to rise in both mainland China and continental Europe, and plans to further increase marketing investment in the second and third quarters to convert brand attention into autumn/winter peak sales.

On the profit side, benefiting from gross profit growth and the absence of last year’s one-off expenses, Canada Goose’s operating loss narrowed from CAD 158.7 million to CAD 103.8 million, with net loss attributable to shareholders dropping from CAD 125.2 million to CAD 90.8 million.

Despite first quarter revenue and adjusted per-share loss both beating expectations, Canada Goose did not raise its annual target and still expects low single-digit revenue growth and an adjusted EBIT margin of 11% to 12% for fiscal 2027.

Management also expects consumer demand for this fiscal year to be weaker than last year, with core markets still facing pressures such as slowing foot traffic, declining consumer confidence, and reduced tourism activity.