Alrighty, so like, Canada Goose jackets were up for grabs inside a Nordstrom store in Toronto, Ontario, Canada, on Tuesday, March 21, 2023. But guess what? Nordstrom is closing its six Canadian department store locations and seven Nordstrom Rack shops! CEO Erik Nordstrom said they just can’t make enough money in the Great White North, according to The Canadian Press. Bummer, eh? Photographer Cole Burston snapped some pics of the scene, and it’s all over the news.
Shares of Canada Goose shot up nearly 20% on Wednesday after they dropped some killer fiscal fourth-quarter earnings that totally beat what analysts were expecting. But hold up, they had to pull the plug on their fiscal 2026 outlook because of some “macroeconomic uncertainty.” The stock went up as much as 28% earlier in the day. The luxury retailer is keeping their lips sealed about what’s coming in 2026 because of all the crazy stuff happening in the world. They’re talking about “dynamic consumer spending patterns” and the “unpredictable global trade environment.”
On a call with investors, Chief Operating Officer Beth Clymer spilled the tea that 75% of Canada Goose’s gear is made in Canada. Pretty cool, eh? And get this, most of it is exempt from President Donald Trump’s tariffs thanks to the United States-Mexico-Canada Agreement. CEO Dani Reiss chimed in, saying most of their stuff isn’t affected by tariffs right now. So, that’s a relief. But with all the tariffs flying around, they’re feeling a bit uncertain about how things will pan out in the near future. Chief Financial Officer Neil Bowden said the tariffs might not mess up their 2026 money plans directly, but the whole situation is kinda sketchy.
The revenue for Canada Goose went up 7.4% from last year, which is pretty sweet. Net income for the fourth quarter was CA$27.1 million, or 28 Canadian cents per share, compared to CA$5 million, or 5 Canadian cents per share, in the same quarter last year. The numbers were adjusted to exclude some one-time costs. The company’s share prices tanked nearly 14% since the start of the year, hitting an all-time low last month. And to make things worse, other luxury brands like LVHM, Burberry, and Kering are also seeing a drop in sales.
Canada Goose, known for their fancy parkas and puffer jackets that cost an arm and a leg, is trying to branch out into nonwinter wear. They’re dabbling in rain jackets and warm-weather clothes to shake things up. They even launched an eyewear collection in the fourth quarter with this cool virtual try-on tech powered by artificial intelligence. It’s all part of their big plan to stay relevant all year round. So, yeah, things are looking up for Canada Goose, even with all the craziness going on in the world.
