Canada Goose Holdings Inc. (NYSE:GOOS) Q3 2020 Earnings Conference Call - Final Transcript

Feb 07, 2020 • 09:00 am ET


Canada Goose Holdings Inc. (NYSE:GOOS) Q3 2020 Earnings Conference Call - Final Transcript


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Good morning. My name is Kenzie, and I will be your conference operator today. At this time, I would like to welcome everyone to the Canada Goose Third Quarter 2020 Earnings Call. [Operator Instructions]

Thank you. I would now like to turn the call over to Patrick Bourke, Senior Director, Investor Relations. You may begin your conference.

Patrick Bourke

Thank you, and good morning, everyone. With me are Dani Reiss, President and CEO; and Jonathan Sinclair, EVP and CFO. After prepared remarks from Dani and Jonathan, we will take your questions. This call, including the Q&A portion, includes forward-looking statements. Each forward-looking statement, including discussion of our fiscal 2020 outlook, 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 Factors section of our most recent Annual Report filed with the SEC and Canadian securities regulators. These documents are also available on the Investor Relations section of our website.

The 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 in the table at the end of our earnings press release issued this morning and available on our Investor Relations website.

With that, I will turn the call over to Dani.

Dani Reiss

Thank you, Patrick, and good morning, everyone. There are two things that I want to accomplish with this call today. Number one, I'd like to share our third quarter results, which continue to reinforce our brand health and long-term growth trajectory, and secondly, I'd like to address the coronavirus health crisis and its material impact on our fourth quarter performance. So let me start with the good news.

Our brand is strong, and our third quarter performance results are a testament to that. I'm really encouraged about the health of our brand and I'm as energized as ever about our long-term potential. To me, what matters most is that Canada Goose is driving traffic and sales at full price. We are delivering best-in-class product and experience, and we are building deeper relationships with our consumers. We're not only succeeding at all of this, but excelling.

This was recently reflected in the List Index, where Canada Goose was included as one of the top 20 hottest brands in the world in the last quarter of 2019. To compile this list, they analyzed the shopping behavior of more than 9 million shoppers across 12,000 designers and stores online. Considering search data and online sales as well as social media and engagement statistics, it is a great external validation of what we already know to be true. That brand strength led to strong performance.

Our third quarter revenue increased by