Canada Goose Holdings Inc

After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw a question, again, press the star one. I would now like to turn the conference over to Anna Ramon, Vice President of Investor Relations. Please go ahead.

Thank you, operator, and good morning, everyone. With me are Danny Reese, our chairman and CEO, Neil Bowden, chief financial officer, Kerry Baker, president of brand and commercial, and Beth Clymer, president of finance strategy and administration. To start off brand new this quarter, we are introducing presentation slides to accompany our prepared remarks. So please follow along on this webcast. We will make forward-looking statements on our call today that are based on assumptions and therefore subject to risks and uncertainties that could cause actual results to differ materially from those projected. We undertake no obligation to update these statements except as required by law. You can read about these assumptions, risks, and uncertainties in our press release this morning, as well as in our filings with US and Canadian regulators. These documents are also available on the Investor Relations section of our website. We report in Canadian dollars, so all amounts discussed today are in Canadian dollars unless otherwise indicated. Please note that financial results described on today's call will compare first quarter results ended June 30, 2024 with the same period ended July 2, 2023 unless otherwise noted. Lastly, our commentary today will also include certain non-IFRS financial measures, which are reconciled at the end of our earnings press release. For today's call, Danny, Neil, Kerry, and Beth will deliver prepared remarks, following which we will open the call to take questions. With that, I'll turn the call over to Danny.

Thanks, Anna, and good morning, everyone. Canada Goose's first quarter results marked a solid start to the year. We achieved sales growth and operational efficiencies that reflect progress across our key operating imperatives for fiscal 2025. Q1 revenue was $88.1 million, up 4% year-over-year, also reflecting the relatively smaller size of this quarter. Our performance in mainland China was a highlight this quarter as we continued to capitalize on key shopping moments in this market on the back of our strong brand advancement of our dtc initiatives we believe these results combined with ongoing execution of our planned initiatives have us on track towards achieving our annual expectations as we navigate the continued dynamic global operating environment on our fourth quarter call we shared our operating imperatives with you first setting the foundation for the next phase of our brand and product evolution to accomplish this in may we announced our first ever creative director heiner ackerman and launched his inaugural design, which represented our best ever marketing campaign performance. And obviously there is so much more to come. Second, implementing best in class retail execution to maximize the positive traffic we generate, drive a more consistent, excellent customer experience and greater sales productivity and profitability over the year. And third, simplify the way we operate to become more efficient and more effective. You'll hear further details of the progress that we've made across all three imperatives later on in this call from Kerry and from Beth. The imperatives I described represent our north star, and the activities behind each are expected to position our company to better meet the needs of a business that has evolved significantly, selling into new channels in different geographies and new products over the last five to 10 years. As a reminder, the execution of our imperatives is underpinned by several strengths, which include A resilient business model that features strong gross margins and an ability to expand EBIT as we scale. Our deep heritage of function and craftsmanship and a globally recognized brand. Advantages of owned manufacturing capabilities both in Canada and in Europe. And a highly dedicated and talented team that's passionate about the delivery of our vision and results and our purpose to keep the planet cold and the people on it warm. Given these competitive advantages, a relatively smaller revenue base, and a large market opportunity, we still have plenty of runway ahead of us. Before I pass the call over to Neil to review our first quarter financial performance, I'd like to share that we released our fiscal 2024 sustainability report earlier this week. As we execute on our key operating imperatives in fiscal 2025 and build our business for the long term, we are mindful of our impact on the planet and the people in our communities and across our organization. I'm very proud of our achievements over the past year, which included some notable highlights. First, we actively reduced our carbon footprint, progressing towards our net zero target. In fiscal 24, we began improving the efficiency of our manufacturing facilities and global headquarters, and investing in renewable energy credits and carbon offsets. As a result, we reduced scope one and two emissions by 6% over the previous fiscal year, with scope one and two emissions down 38% compared to our base year of fiscal 2019, even as our owned operations have grown. Second, we continue to prioritize the sourcing of responsible materials, steadily progressing our preferred fiber and materials goal and reaching 80% of our materials coming from sources. We also furthered our commitment to eliminating forever chemicals from our products with 100% of products made in Canada in fiscal 2024 being PFAS-free. Our commitment and progress in this area was recognized by Fast Company earlier this year, naming us as one of the most innovative companies in fashion. And we strengthened our relationships in the communities we live in and serve, providing a record amount of fabric and material donations across Canada's north through our resource center programs in fiscal 2024. We're pleased with our achievements across our sustainability strategy and the progress with our initiatives underway relating to this year's key operating imperatives. We believe we are well positioned to make steady progress towards our goals for fiscal 2025. And with that, I'll now pass the call over to Neil.