Canada Goose Plans To Open Three New Stores in the US

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Canada Goose Plans to Open Three New Stores in the US
Canada Goose Plans to Open Three New Stores in the US

Luxury apparel brand Canada Goose is set to expand its physical presence by opening three new permanent stores across the United States in the coming weeks.

The parka maker opened its second store in Las Vegas at the Shops at Crystals on May 26, 2023. It will also be opening its first location in Los Angles and Bellevue, Washington, next month, following a successful pop-up in the city in December 2021.

Each store will showcase art from the Canada Goose Art Collection, which is recognized as the most extensive retail collection of Inuit art worldwide.

The brand’s expansion efforts on the west coast come along with its launch of new products geared for warmer weather, including apparel, lightweight down, and footwear.

Canada Goose first revealed its store expansion plans during its earnings update earlier this month. The company reported a 31.4% year-over-year increase in revenue, reaching CAD293.2 million (approximately USD217.4 million at the time). However, there was a net loss expansion from CAD9.1 million in the previous year to CAD10 million. That said, the brand’s direct-to-consumer business offered a silver lining as its revenue grew by 22.6% to CAD227.5 million, partially attributed to the expansion of its retail presence, which totaled 51 locations at the end of the quarter.

Despite facing a decline in sales in the U.S., CEO Dani Reiss expressed optimism about the region during a call with analysts.

As the brand charts its growth trajectory for fiscal 2024, it is counting on expanding its physical footprint with plans to open 16 permanent stores across key markets, including the U.S., China, and Japan.

Photo credit: Canada Goose

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