Canada Goose Holdings Inc. (NYSE:GOOS) Q3 2023 Earnings Call Transcript

Dani Reiss: Thanks, Omar, for your question. Weather — I don’t believe that, in particular, weather has ever caused us — to caused strong performance or cause performance. I think we’ve been able to perform well regardless of weather. I think weather is — and cold is a relative thing. And also, there’s weather events — extreme weather events are more common and localized around the border. That said, like when there is snowstorm, people do want more stuff like it. So there is an impact, but I don’t think that over spread over the year from a macro point of view, there’s a significant impact on that, I think. So that’s to address the weather question. In Japan — I think our brand is really strong in Japan. I’ve been really excited about this JV for years, and I’m very excited to have an operating entity that we own there now.

And I think that — our stores just opened. The Japanese economy is — so our stores are new to the marketplace. They didn’t have an established customer base, and it’s just going to take some time for them to gain some traction there. But I’m very confident in the strength of our brand in Japan. I know the size of it, I don’t know how big it can be. And there’s no doubt that it could be significantly better than it is today and will be with time. And those stores will be part of the reason for that.

Jonathan Sinclair: I think when it comes to the Chinese business, I mean, there’s clearly the Lunar New Year, but the real driver is pent-up demand from consumers. And that’s what we’ve been seeing. That’s what drives the lineup. And you’re seeing business — you’re not just seeing business at the weekend; you’re seeing every single day of the week. And it’s really been very marked and very strong.

Dani Reiss: Yes. I’ll just close with agreed on all that. And I think that — if the reopening happened one month sooner, I think we would have seen the same behavior in December. And had we seen the same behavior in December, I think the conversation of the quarter would be a lot different. But it just — it’s an unfortunate matter of timing for us, and we are fortunate that — during Chinese Lunar New Year, our Chinese consumers were able to shop in our stores and online and the performance speaks for itself.

Operator: Thank you. Ladies and gentlemen, this concludes today’s conference call. Thank you for your participation. You may now disconnect.