Strong Top-Line Growth
Revenue for Q3 FY2026 increased 13% year-over-year to CAD 695 million, driven by broad-based strength across channels and regions.
Direct-to-Consumer (DTC) Momentum
DTC revenue grew 13% with comparable sales up 6% — the fourth consecutive quarter of positive comps — supported by double-digit growth in North America and Asia Pacific and improved e-commerce performance.
Wholesale Strength
Wholesale revenue increased 14% in Q3 (year-to-date revenue up 3%), helped by shipment phasing, improved sell-through of fall/winter product and healthier demand for the expanded year‑round assortment.
Newness and Product Expansion Driving Demand
Revenue from newness (lighter-weight styles, new fabrics and expanded assortments) doubled year-over-year, with strong unit velocity across lighter-weight apparel, Snow Goose designs and reworked classics (e.g., Chilliwack in new fabrics).
Regional Outperformance — North America and APAC
North America revenue rose 20% with high-single-digit comps; APAC revenue increased 12% with Mainland China noted as a top contributor driven by strong e-commerce momentum (Douyin, Tmall) and improved store conversion.
Improved Inventory and Balance Sheet Metrics
Inventory remained relatively flat at CAD 409 million despite sales growth, inventory turns improved to 1.1x (up 16% YoY), and net debt fell to CAD 413 million from CAD 546 million a year earlier, reflecting disciplined working capital and operating cash flow.
Clear Operational Action Plan
Management presented targeted initiatives to restore margins: tighter store labor models (rolled out in APAC then globally), improved marketing efficiency, retail network optimization, sourcing/gross-margin levers from vertical integration, and planned price actions in early FY2027.