Canada Goose(GOOS) - 2024 Q4 - Annual Report

Financial Performance - Wholesale revenue decreased by 20% year-over-year, primarily due to a tightening of the wholesale order book, despite growth in DTC revenue and planned pricing increases[23] - Revenue for the fourth quarter ended March 31, 2024, was CAD 358.0 million, compared to CAD 293.2 million for the same period in 2023, representing a year-over-year increase of 22.1%[24] - Net income for the year ended March 31, 2024, was CAD 58.1 million, down from CAD 68.9 million in 2023, reflecting a decrease of 15.5%[25] - Net income for Q4 2024 was CAD $7.6 million, compared to a loss of CAD$10.0 million in Q4 2023, marking a significant turnaround[33] - Adjusted net income attributable to shareholders for the year was CAD $101.0 million, down from CAD$110.0 million in the previous year[34] Revenue Breakdown - Total revenue for Q4 2024 increased by 22.1% to CAD $358.0 million, driven by a 19.3$271.5 million in Q4 2024, up from CAD $227.5 million in Q4 2023, reflecting a strong performance[39] - Revenue from the Greater China region grew by 29.7$128.4 million in Q4 2024, indicating robust demand in this market[40] - The company plans to continue its market expansion efforts, particularly in Asia Pacific, where revenue increased by 29.6% to CAD $147.9 million in Q4 2024[40] - The company reported a significant increase in "Other" revenue, which rose by 123.3$45.1 million in Q4 2024[39] Cost and Margin Analysis - Consolidated gross margin percentage is expected to be similar to fiscal 2024[23] - Non-IFRS adjusted EBIT margin is projected to expand by approximately 100 basis points compared to fiscal 2024[23] - Adjusted EBIT for the year ended March 31, 2024, was CAD $171.8 million, slightly down from CAD$174.1 million in the previous year, with an adjusted EBIT margin of 12.9%[33] - The company incurred CAD $40.1 million in Transformation Program costs for the year, which included consultancy and severance costs[38] Asset and Cash Position - Total assets decreased from CAD 1,590.0 million in 2023 to CAD 1,481.6 million in 2024, a decline of 6.8%[26] - Cash at the end of the period was CAD 144.9 million, down from CAD 286.5 million at the beginning of the year, indicating a decrease of 49.5%[27] Shareholder Information - The weighted average diluted shares outstanding for fiscal 2025 is approximately 99 million[23] - The weighted average number of shares outstanding for the year was 100,395,330, reflecting a slight decrease from the previous year[34]