Canada Goose’s latest store plans come after the brand reported its fourth-quarter earnings earlier this month.
Revenue in the quarter jumped by 31.4% year over year to 293.2 million Canadian dollars (about $217.4 million at the time) while net loss increased from CA$9.1 million last year to CA$10 million. Direct-to-consumer revenue grew 22.6% to CA$227.5 million partially due to the brand’s retail expansion, closing the quarter with 51 permanent locations.
Sales in the U.S. declined for the brand during Q4, but CEO Dani Reiss told analysts on a call that the company was still optimistic about the region.
During its fiscal year 2024, Canada Goose plans to open a total of 16 permanent stores across the U.S., China and Japan.
The latest U.S. stores will include a wide range of Canada Goose’s product assortment, including parkas, apparel, accessories and footwear. The brand has expanded its offerings to cater to West Coast weather and styles for its summer collection, which includes mule-style footwear as well as lightweight T-shirts and shorts.
Expanding its product offerings is a key component of Canada Goose’s strategy, as it is a strategic pillar for the company’s new Transformation Program. As such, the company will be releasing sneakers this summer and new “hyper feminine” apparel styles.
