GOOS - Canada Goose Holdings Inc. (GOOS) Q4 2024 Earnings Call Transcript

2024-05-16 18:44:08 ET

Canada Goose Holdings Inc. (GOOS)

Q4 2024 Earnings Conference Call

May 16, 2024 8:30 AM ET

Company Participants

Ana Raman - Head of Investor Relations

Dani Reiss - Chairman and Chief Executive Officer

Neil Bowden - Chief Financial Officer

Carrie Baker - President, Brand and Commercial

Beth Clymer - President of Finance, Strategy and Administration

Conference Call Participants

Brooke Roach - Goldman Sachs

Michael Vu - Barclays

Oliver Chen - TD Cowen

Rick Patel - Raymond James

Jesalyn Wong - Evercore

Ike Boruchow - Wells Fargo

Jonathan Komp - Baird

Presentation

Operator

Thank you for standing by. My name is John, and I will be your conference operator today. At this time, I would like to welcome everyone to the Canada Goose Fourth Quarter Fiscal Year 2024 Earnings Call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session. [Operator Instructions] Thank you.

I would now like to turn the call over to Ana Raman, Head of Investor Relations. Please go ahead.

Ana Raman

Thank you, operator, and good morning, everyone. With me are Dani Reiss, our Chairman and CEO; Neil Bowden, Chief Financial Officer; Carrie Baker, President of Brand and Commercial; and Beth Clymer, President of Finance, Strategy, and Administration.

We will make forward-looking statements on our call today that are based on assumptions and therefore subject to risks and uncertainties that could cause actual results to differ materially from those projected. In addition, the outlook that we provide today supersedes all prior financial outlook statements made by Canada Goose. We undertake no obligation to update these statements except as required by law.

You can read about these assumptions, risks, and uncertainties in our press release this morning, as well as in our filings with U.S. and Canadian regulators. These documents are also available on the Investor Relations section of our website, along with our Form 20-F for fiscal 2024, in which you'll find additional information and new disclosures that we believe will strengthen your understanding of our business strategy, business model, and performance.

We report in Canadian dollars, so all amounts discussed today are in Canadian dollars unless otherwise indicated. Please note that financial results described on today's call will compare fourth quarter results ended March 31, 2024, with the same period ended April 2, 2023, unless otherwise noted. Lastly, our commentary today will also include certain non-IFRS financial measures which are reconciled at the end of our earnings press release.

For today's call, Dani, Neil, Carrie, and Beth will deliver prepared remarks following which we will open the call to take questions.

With that, I'll turn the call over to Dani.

Dani Reiss

Thanks, Ana, and good morning, everyone. Canada Goose reported a solid fourth quarter, growing revenue and adjusted EBIT by 22% and 51%, respectively year-over-year. Our performance in the quarter surpassed our expectations and capped off an important year of execution across our strategic pillars....

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