×
142
Fashion Jobs
BIMBA Y LOLA
Sales Assistant
Permanent · LONDON
BIMBA Y LOLA
Part Time Sales Assistant
Permanent · LONDON
PINK PANTY
Web Manager
Permanent · LONDON
TK MAXX
District Loss Prevention Manager
Permanent · Warsaw
SHISEIDO
Bareminerals Account Manager - Hoopers, Wilmslow (Maternity Cover) (37.5)
Permanent · Manchester
SHISEIDO
Bareminerals Account Manager - Debenhams, Dundee (37.5)
Permanent · Dundee
SHISEIDO
Bareminerals Account Manager - Debenhams, Winchester (Maternity Cover)
Permanent · Hampshire
KIMAI
Marketing Manager
Permanent · LONDON
MICHAEL KORS (UK) LIMITED
Ecommerce Operations Manager, Emea
Permanent · London
SHISEIDO
Account Manager - Debenhams
Permanent · BURY SAINT EDMUNDS
SHISEIDO
Bareminerals Account Manager - Debenhams, Ipswich (37.5)
Permanent · Ipswich
SHISEIDO
Shisiedo Group Fragrance Account Manager - John Lewis, Brent Cross (22.5)
Permanent · London
MARROUGE
E-Commerce And Marketing Internship
Internship · LONDON
MAJE
Sales Assistant, Full Time - Canary Wharf, London
Fixed-term · LONDRES
NIKE
Nike Temporary Part Time Athlete (Sales Associate)
Fixed-term · Loanhead
NIKE
Nike Part Time Athlete (Sales Associate)
Permanent · Tillicoultry
THE POSITIVE COMPANY
Journalism And Content Internship
Internship · LONDON
LONE DESIGN CLUB
Creative Store/Set Design, Visual Merchandising Internship
Internship · LONDON
MONCLER
Store Manager London
Permanent · LONDRES
NIKE
Nike Temporary Part Time Athlete (Sales Associate)
Fixed-term · Banbridge
NIKE
Nike Coach (Department Manager)
Permanent · Banbridge
KHLOÉNOVA
Virtual Marketing Rep
Internship · LONDON

Canada Goose lowers reliance on department stores in recovery push

By
Reuters
Published
Jun 4, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Canada Goose Holdings Inc said on Wednesday it would limit shipments to department stores and focus on its own outlets and website to shore up profit margins, as it looks to cushion the blow from the COVID-19 pandemic.


Facebook: Canada Goose



As fashion capitals across the world start to reopen amid easing of coronavirus-led restrictions, the luxury winterwear maker said it would base its recovery at its own retail outlets for the rest of the year as the company can sell coats and down jackets at triple the profit.

The company’s shares, which have fallen over 40% this year, rose over 11% on Wednesday, despite a projection of little revenue in the current quarter.

Department stores have been crushed by forced closures as countries looked to curb the spread of the coronavirus. With a deep recession on the horizon, demand is not expected to bounce back any time soon.

One of the company’s most high profile retail customers, Neiman Marcus Group, filed for bankruptcy protection last month.

Canada Goose, whose red parkas are worn by everyone from Arctic scientists to Hollywood celebrities, said shipments to department stores have been largely shutoff since March and it expects lower orders in the coming months compared to last year, given the piling up of inventory during closures.

However, Chief Executive Officer Dani Reiss emphasized the shift in focus was because Canada Goose’s own stores and online business would see a faster recovery than its wholesale channels.

Wholesale revenue made up about 44% of the company’s total revenue in the previous fiscal year.

In the fourth quarter ended March 29, Canada Goose’s revenue fell nearly 10% to C$140.9 million ($104.15 million), but beat analysts’ estimates of C$128.1 million, according to IBES data from Refinitiv.

© Thomson Reuters 2020 All rights reserved.