Canada Goose Q1 Revenue Plunges 63%, Losses Widen

Canada Goose Q1 Revenue Plunges 63%, Losses Widen

Canada Goose parkas are easily recognizable by their red-rimmed shoulder patch. (Chris So/Toronto ... [+] Star via Getty Images)



Toronto Star via Getty Images

Extreme outerwear brand Canada Goose saw revenue fall sharply by 63% and losses widen, according to yesterday's report for the first fiscal quarter.

Total revenue for the Toronto-based company was $26.1 million (Canadian) for the three months ended June 28, 2020, down from $71.1 million (Canadian) for the same period a year ago. Losses widened to $50.1 million (Canadian) compared to losses of $29.4 (Canadian) in the year-ago period. One Canadian dollar is currently valued at 75 cents in the United States.

Canada Goose is known for its pricey parkas—upward of $1,000 U.S.—and signature red-rimmed shoulder patch.

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