Slides
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EARNINGS PRESENTATION Q1 FY27
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DISCLAIMER Q1 FY27 EARNINGS 2 All references in this presentation to “Canada Goose”, the “Company”, “we”, “our”, “us” or similar terms refer to Canada Goose Holdings Inc., together with its subsidiaries. This presentation has been prepared by Canada Goose solely for information purposes. This presentation does not constitute an offer to sell or a solicitation of an offer to buy any securities in any jurisdiction. Unless otherwise indicated, all amounts are presented in Canadian dollars. FORWARD-LOOKING INFORMATION This presentation contains forward-looking statements within the meaning of applicable securities laws, including statements relating to our fiscal 2027 financial outlook, the related assumptions included herein, the execution of our proposed strategy, and our operating performance and prospects. These forward-looking statements generally can be identified by the use of words such as “believe,” “could,” “continue,” “expect,” “estimate,” “may,” “potential,” “would,” “will,” and other words of similar meaning. Each forward-looking statement contained in this presentation is subject to substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, the impact on our operations of the current global economic conditions and their evolution and are discussed under “Cautionary Note regarding Forward- Looking Statements” and “Factors Affecting our Performance” in our Management's Discussion and Analysis ("MD&A") for the year ended March 29, 2026 and for the first quarter ended June 28, 2026, as well as under “Risk Factors” in our Annual Report on Form 20-F for the year ended March 29, 2026. You are also encouraged to read our filings with the SEC, available at www.sec.gov, and our filings with Canadian securities regulatory authorities available at www.sedarplus.ca for a discussion of these and other risks and uncertainties. Investors, potential investors, and others should give careful consideration to these risks and uncertainties. We caution investors not to rely on the forward-looking statements contained in this presentation when making an investment decision in our securities. The fiscal year 2027 financial outlook discussed in this presentation also constitutes "financial outlook" within the meaning of applicable securities laws and is based on a number of assumptions and subject to a number of risks. The purpose of this outlook is to provide a description of management's expectations regarding the Company's annual financial performance and may not be appropriate for other purposes. Actual results could vary materially as a result of numerous factors, including certain risk factors, many of which are beyond the company’s control. Please refer to our earnings release dated July 30, 2026 for more information on the assumptions underlying our fiscal year 2027 outlook. GENERAL
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DISCLAIMER Q1 FY27 EARNINGS 3 NON-IFRS FINANCIAL MEASURES AND OTHER SPECIFIED FINANCIAL MEASURES This presentation includes references to certain non-IFRS financial measures such as adjusted EBITDA, adjusted EBIT, adjusted net income (loss) attributable to shareholders of the Company, net debt and constant currency revenue and certain non-IFRS ratios such as adjusted EBIT margin and adjusted net income (loss) per basic and diluted share attributable to the shareholders of the Company. These financial measures are employed by the Company to measure its operating and economic performance and to assist in business decision-making, as well as providing key performance information to senior management. The Company believes that, in addition to conventional measures prepared in accordance with IFRS, certain investors and analysts use this information to evaluate the Company’s operating and financial performance. These financial measures are not defined under IFRS nor do they replace or supersede any standardized measure under IFRS. Other companies in our industry may calculate these measures differently than we do, limiting their usefulness as comparative measures. Adjusted EBIT, adjusted EBIT margin, adjusted net income attributable to shareholders of the Company, and adjusted net income per basic and diluted share attributable to shareholders of the Company. These measures exclude the impact of certain non-cash items and certain other adjustments related to events that are non-recurring or unusual in nature, that we believe are not otherwise reflective of our ongoing operations and/or that make comparisons of underlying financial performance between periods difficult. We use, and believe that certain investors and analysts use, this information to evaluate our core financial and operating performance for business planning purposes, as well as to analyze how our business operates in, or responds to, swings in economic cycles or to other events that impact the apparel industry. Although we base the forward-looking statements contained in this presentation on assumptions that we believe are reasonable, we caution readers that actual results and developments (including our results of operations, financial condition and liquidity, and the development of the industry in which we operate) may differ materially from those made in or suggested by the forward-looking statements contained in this presentation. Additional impacts may arise that we are not aware of currently. The potential of such additional impacts intensifies the business and operating risks which we face, and these should be considered when reading the forward-looking statements contained in this presentation. In addition, even if results and developments are consistent with the forward-looking statements contained in this presentation, those results and developments may not be indicative of results or developments in subsequent periods. As a result, any or all of our forward-looking statements in this presentation may prove to be inaccurate. No forward-looking statement is a guarantee of future results. Moreover, we operate in a highly competitive and rapidly changing environment in which new risks often emerge. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward- looking statements we may make. Consequently, all of the forward-looking information contained herein is qualified by the foregoing cautionary statements. You should read this presentation and the documents that we reference herein completely and with the understanding that our actual future results may be materially different from what we expect. The forward- looking statements contained herein are made as of the date of this presentation (or as of the date specifically indicated therein), and we do not assume any obligation to update any forward-looking statements except as required by applicable laws.
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DISCLAIMER Q1 FY27 EARNINGS 4 Constant currency revenue Constant currency revenue is calculated by translating the prior year reported amounts into comparable amounts using a single foreign exchange rate for each currency calculated based on the current period exchange rates. We use, and believe that certain investors and analysts use, this information to assess how our business and geographic segments performed excluding the effects of foreign currency exchange rate fluctuations. Net debt We define net debt as cash less total borrowings and lease liabilities. We use, and believe that certain investors and analysts use non-IFRS financial measure to determine the Company’s financial leverage and ability to meet its debt obligations. This presentation also includes references to DTC comparable sales growth (decline) which is a supplementary financial measure defined as a rate of growth or decline of sales on a constant currency basis from e-Commerce sites and stores which have been operating for one full year (12 successive fiscal months). The measure excludes store sales from both periods for the specific trading days when the stores were closed, whether those closures occurred in the current period or the comparative period.
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DANI REISS Chief Executive Officer Q1 FY27 EARNINGS NEIL BOWDEN Chief Financial Officer CARRIE BAKER President, Brand & Commercial BETH CLYMER President, Chief Operating Officer 5
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DANI REISS Chief Executive Officer Q1 FY27 EARNINGS 6
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DEEPEN BRAND DESIRE AND TRANSLATE MOMENTUM INTO DEMAND BUILD A REPEATABLE PRODUCT PLAYBOOK IMPROVE CHANNEL PRODUCTIVITY AND CAPITAL EFFICIENCY FY27 STRATEGIC PRIORITIES Q1 FY27 EARNINGS 7
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Q1 FY27 EARNINGS Brand desirability and awareness outperformed competitive benchmarks in key markets Brand momentum reflected in double-digit ecommerce traffic growth Y/Y and strong new customer acquisition Planned marketing investments aligns spend with periods we expect strongest demand DEEPEN BRAND DESIRE AND TRANSLATE MOMENTUM INTO DEMAND 8
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SS26 collection drove growth in Apparel, Rainwear and Windwear, expanding to ~40% of Q1 revenue. These categories now exceed total revenue generated in Q1 FY19 Growth of Down-filled outerwear and warmer-season categories demonstrates expansion of wear occasions across seasons while maintaining core heritage as an anchor BUILD A REPEATABLE PRODUCT PLAYBOOK Q1 FY27 EARNINGS 9
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VANCOUVER, CANADA IMPROVE CHANNEL PRODUCTIVITY AND CAPITAL EFFICIENCY Improved retail execution resulted in higher conversion and units per transaction, offset by softer store traffic Strong performance reflects strong order book, in-season reorders for SS26 collection, and shipment timing DIRECT-TO-CONSUMER WHOLESALE Reflects partner confidence in brand and growing demand for broader product assortment DTC revenue increase primarily due to strong e-commerce growth across all regions Q1 FY27 EARNINGS Opened four new stores, bringing total store count to 92 at the end of Q1 FY27 10
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NEIL BOWDEN Chief Financial Officer Q1 FY27 EARNINGS 11
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$118.9m +10% Reported;+9% cc1 1 Constant currency revenue (cc) is a non-IFRS financial measure. See Non-IFRS Financial Measures and Other Specified Financial Measures for more information. Q1 FY27 REVENUE RESULTS Q1 FY27 EARNINGS 12 Q1 FY27 total revenue increased 9% Y/Y driven by growth in our higher margin channels
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DTC DTC up 7% Y/Y driven by double digit growth in e-commerce DTC comparable sales decline2 of 3% Y/Y due to lower traffic in retail stores OTHER Minimal friends and family activity in the quarter WHOLESALE Wholesale up 65% Y/Y, benefitting from higher in-season demand, an increase in orderbook shipments, and timing of shipments 11.8 4.3 17.9 29.8 78.1 84.8 Others Wholesale DTC 9% 7% 65% (64%) Q1 FY26 Q1 FY27 1 Constant currency revenue is a non-IFRS financial measure. See Non-IFRS Financial Measures and Other Specified Financial Measures for more information. 2 DTC comparable sales (decline) growth is a supplementary financial measure. See Non-IFRS Financial Measures and Other Specified Financial Measures for more information. (in $M of Canadian dollars) (unaudited) (Y/Y variances in constant currency1) Q1 FY27 CHANNEL PERFORMANCE 13 Q1 FY27 EARNINGS
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ASIA PACIFIC Growth driven by strong performance in both DTC and Wholesale Continued strength in e-commerce and improved conversion across several key stores in Mainland China Wholesale revenue benefitted from shipment timing in the quarter, and strength from our wholesale presence on Hainan Island and in Korea EMEA Revenue declined Y/Y as strength in wholesale and ecommerce was offset by softer store sales DTC comparable sales declined 2 as challenging macro conditions continued to weigh on traffic across the region NORTH AMERICA Growth driven by double-digit gains in DTC and wholesale channels offset by a planned reduction in Friends and Family activity Y/Y DTC comparable sales2 declined 1% Y/Y as improved conversion was offset by softer retail traffic levels (in $M of Canadian dollars) (unaudited) (Y/Y variances in constant currency1) 1 Constant currency revenue is a non-IFRS financial measure. See Non-IFRS Financial Measures and Other Specified Financial Measures for more information. 2 DTC comparable sales (decline) growth is a supplementary financial measure. See Non-IFRS Financial Measures and Other Specified Financial Measures for more information. Q1 FY27 GEOGRAPHIC PERFORMANCE 14 17.5 16.5 51.3 48.8 39.0 53.6 EMEA APAC NA Q1 FY26 Q1 FY27 (6%) 35% (7%) 9% Q1 FY27 EARNINGS
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Q1FY27 (unaudited) % of Revenue Q1FY26 (unaudited) % of Revenue Revenue 118.9 107.8 Y/Y change (reported) 10% 22% Gross profit 74.2 62.4% 66.2 61.4% SG&A 178.0 149.7% 224.9 208.6% Adjusted EBIT1 (103.8) (87.3%) (106.4) (98.7%) Net loss attributable to shareholders Net loss per basic and diluted share attributable to shareholders2 (90.8) $(0.93) (125.2) $(1.29) Adjusted net loss attributable to shareholders 1 Adjusted net loss per basic and diluted share attributable to shareholders1,2 (86.5) $(0.89) (88.2) $(0.91) Gross Margin up 100 basis points Y/Y due to 62.4% due to favorable channel and regional sales mix SG&A expense decreased 21% Y/Y. Normalizing for one-time items in both Q1 periods, SG&A increased 6% Y/Y and translated to SG&A leverage. This reflected progress across three areas: • Marketing spend as a % of revenue declined 490 basis points Y/Y • Operating leverage in WS and DTC channels due to higher revenue • Well-managed corporate expenses 1 Adjusted EBIT and adjusted net loss attributable to shareholders are non-IFRS financial measures, and adjusted net loss per basic and diluted share attributable to shareholders is a non-IFRS financial ratio. See Non-IFRS Financial Measures and Other Specified Financial Measures for more information. 2. Subordinate voting shares issuable on exercise of stock options are not treated as dilutive if including them would decrease the loss per share or if the average daily closing share price for the period was greater than the exercise price. Accordingly, for the first quarter ended June 28, 2026, 2,276,282 potentially dilutive shares have been excluded from the cal culation of diluted loss per share because their effect was anti-dilutive (first quarter ended June 29, 2025 - 1,544,848 shares). (in $M of Canadian dollars) INCOME STATEMENT 15 Q1 FY27 EARNINGS
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Jun 28, 2026 (unaudited) Jun 29, 2025 (unaudited) Cash 206.9 180.5 Net debt 1 627.8 541.7 Inventory 489.9 439.5 Y/Y inventory change 11% (9%) 1 Net debt is a non-IFRS financial measure. See Non-IFRS Financial Measures and Other Specified Financial Measures for more information. (in $M of Canadian dollars) KEY BALANCE SHEET ITEMS 16 Inventory dollars increased Y/Y reflecting an expanded product assortment, larger wholesale orderbook, and planned production growth to support anticipated demand for FW26 Inventory turns improving to 1.0x, up from 0.9x last year, or 11% Y/Y Net debt 1 increased Y/Y reflecting an increase in store lease liabilities Executed term loan repricing, achieving a 50-basis point reduction in the credit spread Q1 FY27 EARNINGS
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Metric Outlook Drivers Total Revenue Growth (%) Increase by approximately low-single digits Y/Y on a constant currency basis2 • Growth led by DTC across stores and e-commerce • Wholesale contributes to revenue growth Adjusted EBIT Margin3 11% to 12% • Gross margin expansion • Balancing investments in strategic channels with more efficient marketing and tight control of corporate costs 1 This information constitutes forward-looking information, based on multiple estimates and assumptions about future events. The purpose of the outlook is to provide a description of management's expectation regarding the Company's annual financial performance and may not be appropriate for other purposes. Actual results may differ and such differences may be material. See Forward-looking Information on slide 2, 3 and 4 of this presentation. 2 Constant currency revenue is a non-IFRS financial measure. See Non-IFRS Financial Measures and Other Specified Financial Measures for more information. 3 Adjusted EBIT margin is a non-IFRS financial ratio. See Non-IFRS Financial Measures and Other Specified Financial Measures for more information. Reiterating FY27 Financial Outlook1 17 Our FY27 outlook assumes: • Revenue growth is driven by pricing actions already implemented, increased depth in our product assortment, a larger wholesale order book, and new store openings, partially offset by lower consumer demand relative to fiscal 2026, including softer traffic in key markets, reduced consumer confidence, and lower travel. • Gross margin expands, reflecting the benefit of pricing actions and operational efficiencies embedded in fiscal 2026 production and favourable channel mix, partially offset by product mix, raw material inflation, and supply chain cost pressures from current disruptions. • SG&A declines as a percentage of revenue, as we balance disciplined cost management with targeted investments across channels, marketing, and technology, driving operating leverage on a consolidated basis. • No material impact from U.S. duties announced on July 20, 2026, and which are currently stated to come into effect on August 19, 2026. Such duties, if and when in effect, would currently be expected to apply to a broad range of Canadian and other goods globally, including goods qualifying under the Canada-United States-Mexico Agreement (CUSMA) such as certain of the Company’s products. Considering, among other things, the rapidly evolving Canada/U.S. trade environment and developments that may occur before or after such stated effective date, the extent to which such duties, together with any related retaliatory measures or further changes in trade policy, will affect the Company and impact its business and results of operations, remains uncertain. Q1 FY27 EARNINGS
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Drivers H1 FY27 H2 FY27 Revenue Growth Growth in DTC and Wholesale Channels ~25% of full-year revenue ~75% of full-year revenue Gross Margin Expansion Tailwind Pricing and manufacturing and operational efficiencies SG&A Leverage Fixed costs are evenly spread through the full fiscal year, excluding strategic channel investments Marketing More efficient spend allocation Channel Costs Headwind Investments in e-commerce capabilities & EMEA logistics network plus costs to expand retail network Tailwind Cost leverage as revenue scales Non-recurrence of FY26 U.S. wholesale bad- debt expense and store impairment charges Corporate Overhead Disciplined headcount and tight discretionary controls 1 This information constitutes forward-looking information, based on multiple estimates and assumptions about future events. The purpose of the outlook is to provide a description of management's expectation regarding the Company's annual financial performance and may not be appropriate for other purposes. Actual results may differ and such differences may be material. See Forward-looking Information on slide 2, 3 and 4 of this presentation 2 Adjusted EBIT margin is a non-IFRS financial ratio. See Non-IFRS Financial Measures and Other Specified Financial Measures for more information. FY27 Outlook1 - Adjusted EBIT Margin2 Drivers 18 Q1 FY27 EARNINGS
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Q&A 19 Q1 FY27 EARNINGS