Retail

Canada Goose Outerwear Company Is Flying High

The Canada Goose is migrating. Canada Goose Holdings Inc., a premium outerwear brand known for its goose-down jackets with fur-trimmed hoods, has announced that it plans to open three more retail locations in the fall: in Boston, Calgary and Tokyo. That’s in addition to previously announced standalone stores in Chicago and London.

The 60-year-old company opened its flagship freestanding stores in Toronto and New York City just last year and is eager to grow its physical footprint in other parts of the world.

In the quarter that ended June 30, direct-to-consumer sales from the flagship stores and digital platforms swelled to $6.5 million – a six-fold increase, reported the PE Hub Network.

And sales aren’t the only numbers that have been on the rise for Canada Goose. Shares were up 5.3 percent on the Toronto Stock Exchange following smaller losses than expected last quarter. Analysts expected losses of 19 cents per share. Instead, the company’s comprehensive losses slimmed from 14 cents per share in the previous year to 11 cents per share in the most recent quarter.

That’s good news as the company dives head first into brick-and-mortar growth. The new Boston Canada Goose store will be located in the urban, upscale Prudential Center shopping mall. The Calgary store will open in the Cadillac Fairview Chinook Centre and marks the brand’s second physical manifestation in Canada. The Tokyo flagship will be located in the Sendagaya neighborhood, a high-end fashion center, and will be operated by a distribution partner of the company, reported Chain Store Age.

“Having a flagship store in Tokyo is particularly exciting as Japan continues to be one of our strongest growing markets, and we can now better answer the call of our Asian customers by giving them an opportunity to engage with our brand, unfiltered,” said Dani Reiss, president and CEO of Canada Goose.

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