Canada Goose Holdings Inc

Hello, everyone. Thank you for joining us and welcome to the Canada Guse Q4 2026 earnings call. After today's prepared remarks, we will host a question and answer session. If you would like to ask a question, please press star one to raise your hand. To withdraw your question, press star one again. I will now hand the conference over to Anna Ramon.

Good morning, everyone, and thank you for joining us today on the Canada Goose Q4 Fiscal 2026 Earnings Call. Today, you'll hear from Danny Rees, our Chairman and CEO, Neil Bowden, Chief Financial Officer, Kerry Baker, President of Brand and Commercial, and Beth Clymer, President and Chief Operating Officer. We'll start with prepared remarks from Danny and Neil, and then open up the call for questions. Today's presentation will contain forward-looking statements 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. Further information regarding these assumptions, risks, and uncertainties is included in our press release issued earlier today and available on the Investor Relations section of our website. We report in Canadian dollars, so the amounts discussed today are in Canadian dollars unless otherwise indicated. Please note the financial results described on today's call will compare fourth quarter and fiscal 2026 results ended March 29, 2026, with the same period ended March 30, 2025. And stated revenue percent changes are in constant currency 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. With that, I'll turn the call over to Danny.

Good morning, and thank you for joining us. Fiscal 2026 was a year of focused execution across our key priorities in product, brand, and channel execution. We made deliberate investments to strengthen the foundation of the business, and the results are encouraging. Revenue grew 12% for the year and 18% in the fourth quarter. Direct-to-consumer comparable sales rose 8% for the year and 10% in Q4, our fifth straight quarter of positive comp growth, driven by stronger conversion and broader customer engagement, and wholesale return to growth, up 9% for the year, with a strong finish in Q4 as demand and sell-through improved. Just as important, our evolved marketing strategy drove accelerating brand momentum through the year. By extending our core strengths of performance and craftsmanship, we're expanding how and when people wear the brand. In fiscal 26, we expanded our customer base through both new acquisition and stronger re-engagement, broadening relevance, increasing purchase frequency, and deepening connection and desire with our customers. We backed that momentum with the right investments and the right execution, which translated into meaningful progress across each of our operating imperatives in the fourth quarter. First, we expanded our product offering to enhance year-round relevance. In the fourth quarter, our expanded assortment continued to resonate with customers across seasons and occasions. Demand was supported by a balanced mix of heritage outerwear, lighter waist styles, and new design expressions that broadened how and when customers wear the brand. We launched our Spring-Summer 2026 collection, our largest assortment to date for the season, and brought it to market earlier than in prior years, increasing visibility into our versatile offer. This strengthened our presence through the shoulder season and supported more consistent engagement beyond peak winter. And customers are responding. Apparel led growth in Q4 and for the year, while downfield outerwear remained the majority of our revenue and meaningful contributor to growth. That dynamic is exactly what we've been building towards. Second, we continued to build brand heat through focused marketing investments that supported revenue growth and improved brand health. We saw gains in desire and momentum with stronger performance versus key competitive benchmarks in several core markets. That brand momentum was clearly reflected in our fourth quarter performance. Marketing drove higher traffic and conversion across D2C around key product launches, supporting full price sell-through and reinforcing our luxury positioning of the brand. At the same time, we became more efficient, using better data and measurement to focus spend on what's working and where it can build the brand over the long term. Third, we drove business expansion through strategic channel development. Our approach remains consistent, elevate the D2C consumer experience while nurturing strategic wholesale partnerships that extend our reach, support the brand, and preserve the right level of control. In direct-to-consumer in the fourth quarter, we've improved execution through stronger merchandising, healthier inventory, and better conversion, while also tightening how we run the retail business. We are applying greater rigor to improve productivity across our network and actively reviewing the retail portfolio so that each location meets our return expectations. Our digital channel delivered strong growth in the fourth quarter. Enhancements to product discovery, content, and personalization made it easier for customers to find what they were looking for, creating a smoother path from browsing to checkout, further supporting conversions. We continue to improve this channel and are creating a more connected online to in-store shopping experience. In wholesale, the reset we started three years ago is complete and the channel has returned to growth. This reflects better product flow, healthier inventory, and stronger sell-through, with encouraging reorders for our fall-winter 25 assortment and continued momentum into spring 2026. Bringing spring summer to market earlier only strengthened that demand and we're pleased with how the channel is progressing. Our fourth imperative is operating efficiently with pace and accountability. In fiscal 2026, we strengthened the organization through targeted investments in people and technology with a clear focus on speeding up productivity and decision-making. That progress supported growth and drove underlying operating leverage in the year. The work that we've done positions us to take the next step, converting our momentum into greater profitability in fiscal 2027. Our focus is to leverage our brand strength and operating foundation to drive sustainable growth, expand margins, and improve returns. Our priorities for this year are clear, and we're executing against them with increasing consistency. First, we're deepening brand desire and increasingly translating that into demand through more effective marketing. Second, we're scaling a repeatable product playbook across seasons to drive greater year-round relevance. And third, we're improving channel productivity and capital efficiency to increase conversion and customer value. Fiscal 2026 marked a step change for Canada, and I am very pleased with how the year has played out. We delivered against our objectives and built real momentum across the business. I want to thank our teams around the world for the creativity and commitment that you've all brought to executing our strategy this year. As we look ahead to fiscal 27, we expect to deliver meaningful profit margin expansion. Canada Goose has always been a strong brand. And now, at a larger scale, we're seeing that strength translate into deeper cultural relevance and commercial impact. With the investments we've made and the progress we're delivering, we have a clear path to becoming a more profitable business. And with that, I will turn it over to Neil.