Canada Goose Holdings Inc

Conference is scheduled to begin shortly. Please continue to stand by. Thank you for your patience. Thank you. Good day and thank you for standing by. Welcome to the Canada Q4 2021 earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's remarks, there will be a question and answer session. To ask a question during the session, you will need to press star 1 on your telephone. Please be advised that today's conference is being recorded. If you require any further assistance, please press star 0. I would now like to hand the conference over to your speaker today, Patrick Burke, Vice President, Investor Relations. Please go ahead.

Thank you, and good morning, everyone. With me are Danny Reese, President and CEO, and Jonathan Sinclair, EVP and CFO. After prepared remarks from Danny and Jonathan, we will take your questions. These will be limited to one each to allow as many as possible to ask questions within the allotted time. This call, including the Q&A portion, includes forward-looking statement. Each forward-looking statement is subject to risks and uncertainties that could cause actual results to differ materially from those projected in such statements. Certain material factors and assumptions were considered and applied in making these forward-looking statements. Additional information regarding these forward-looking statements, factors, and assumptions is available in our earnings press release issued this morning, as well as in the risk factor section of our most recent annual report, These documents are also available on the investor relations section of our website. Forward-looking statements made on this call speak only as of today, and we undertake no obligation to update or revise any of these statements. Our commentary today will include certain non-IFRS financial measures, which are reconciled on the table at the end of our earnings press release issued this morning and available, again, on the investor relations section of our website. With that, I will turn the call over to Danny.

Thanks Patrick and good morning everyone. We entered this year in uncharted territory with a simple plan in place to do everything we could to support people during this time of uncertainty and to put our business in the best possible position for a strong recovery this year and beyond. In an unprecedented and difficult year, we moved key strategic initiatives forward, and I'm very excited to share those highlights and our results with you here today. To begin, Canada Goose has shifted from recovery to growth beyond pre-pandemic levels. Not only did we finish the year with a record fourth quarter, we have positioned our business well going into next year. And now, with two strong growth quarters behind us, We feel very confident about the runway ahead and our return to continued meaningful growth. Our fourth quarter showcased the true strength of our global digital business with triple-digit growth. Our global e-commerce revenue increased by 123%, driven by high double-digit or low triple-digit growth in all major established markets, including Canada, the United States, mainland China, and the U.K., not to mention the strong performance in our earlier stage markets like Germany, France, and Ireland. This year, we accelerated our digital strategy. We accomplished in months what was planned over years. This approach was a response to a shift in consumer behavior driven by COVID, but it is underpinned by our focus on shifting forward our strategic plans in order to accelerate continued growth. This achievement has had incredible implications across our business, and I look forward to continuing to update you on our achievements across this very important channel in the future. Looking ahead, we will continue to execute against our long-term growth strategy with 10 new store openings expected for fiscal year 22. In North America, we plan to open in South Coast Plaza, a premier shopping destination in Southern California. In Europe, we expect to open three new locations, including two in Germany and another in the UK. And in Asia Pacific, we plan to expand our retail network, adding six new permanent stores. We continue to be encouraged by the performance of our existing APAC network. In the past three years alone, we've built a more than $250 million business, a tremendous feat by any measure, and a testament to the strength of our brand in that region. Lastly, in terms of consumer relevance, all of the research we are seeing shows a growing and positive shift in brand sentiment and trust. We believe this is a result of a number of factors, including the important progress we have made under our human nature platform and our commitment to keep the planet cold and the people on it warm. We continue to execute against our commitment to address environmental, social, and economic challenges, and we are extremely proud of the progress that we have made so far. Building on brand relevance and consumer demand, Canada Goose exists at the nexus of culture and fashion. For decades, we've been a coveted brand across the influential arenas of film, entertainment, and sport. And this year, we bolstered that tradition by announcing a multi-year partnership with the NBA that made Canada Goose the outerwear partner of NBA All-Star. We continue to focus on driving brand heat with consumers, This multi-year partnership is a significant milestone for us. In the coming years, we will develop exclusive design collaborations in partnership with the NBA for players and fans alike. This quarter, we continue to focus on driving meaningful change that is fundamentally important to today's consumer. Through our product innovation strategy and focus on sustainability, we are making an impact. 2020 was the year we gave consumers the first glimpse of our most sustainable parka to date, the standard Expedition Parka. This quarter, we also launched the Cypress and Crofton, two bold new spring styles featuring recycled fabrics. Not only are these offerings resonating incredibly well with consumers, they are blueprints for our sustainably driven collections moving forward and key drivers of our expanding multi-seasonal offerings. We've also made progress towards building vibrant communities and maintaining healthy and respectful workplaces. As a leader in the Canadian manufacturing industry, we offer meaningful work and valuable job skills for thousands of people, both in Canada and abroad. As vaccinations ramp up and as global supply continues to increase, for many, we've entered a new, more hopeful phase in our global fight against COVID-19. In an effort to remove barriers and ensure equitable access, we are offering all employees paid leave to receive COVID-19 vaccinations. I am proud to do our part to ensure that all Canada use employees have equitable access to vaccines. That said, for many, the battle continues and our thoughts are with all of those who have been affected by COVID and to those communities and countries who are at earlier stages in their recovery. Looking ahead, I'm very excited for the upcoming commercial launch of Canada Goose footwear. As you know, we've taken a very deliberate approach to this category, which has been many years in the making. And now, with the launch later this fall, we have an incredible opportunity in front of us this year and beyond. We plan to bring a brand-new perspective to the marketplace, and I look forward to sharing more details about our vision for that with you this fall. In summary, we have demonstrated strong current momentum and we have confidence in our growth potential long-term. I am incredibly proud of the way our team has executed under such difficult circumstances and the strides that we have made across all of our strategic initiatives, while remaining steadfast in our commitment to strengthening our communities, protecting our planet, and working towards a better future for generations to come. Our business has moved well beyond recovery, and we look forward to continuing to deliver meaningful growth this coming year and for the long term. And we plan to cross the billion-dollar threshold as a brand for the first time this year. And with that, I will turn it over to Jonathan.