Ecommerce sales are a driver for growth at outerwear brand Canada Goose, president and CEO Dana Reiss said on a call with investors according to a SeekingAlpha transcript.
Canada Goose’s direct-to-consumer sales grew 78.7% in Q3 to $235.3 million from $131.7 million. For the first nine months of its fiscal year ended Dec. 31, direct-to-consumer sales grew 92.8% to $308.9 million from $160.2 million. Direct-to-consumer sales include sales from its 12 ecommerce sites as well as its seven brand stores. Canada Goose does not disclose its ecommerce sales.
Canada Goose launched its first ecommerce site in 2014 in Canada, and just in its fiscal year 2018, it launched ecommerce sites in eight countries: Ireland, Belgium, Netherlands, Luxemburg, Sweden, Germany, Austria and China. Total revenue during the first nine months of its fiscal year is $674.3 million, up 44.6% from $466.4 million. Canada Goose is No. 644 in the 2018 Internet Retailer Top 1000.
In other earnings news:
- Direct-to-consumer sales for drinkware brand Yeti Holdings Inc. increased 47.8% for the year ended Dec. 29 to $287.4 million, up from $194.4 million last year. Direct-to-consumer sales includes sales from its ecommerce operations and from its retail store in Austin. Net sales, including direct-to-consumer and wholesale sales, were $778.8 million in fiscal 2018, up 21.8% from $639.2 million. Site traffic to Yeti.com grew 33% to 35 million visits in 2018, executives said on a call with investors discussing the results, according to SeekingAlpha. In 2019, Yeti plans to combine its two ecommerce sites Yeti.com and YetCustomShop.com into a single site. In addition to its ecommerce sites, Yeti sells on Amazon.com Inc.’s marketplace. During the quarter, Yeti added Mary Lou Kelley to its board of directors to help execute the company’s omnichannel strategy. Kelly was previously the president of ecommerce at consumer electronics retail chain Best Buy Co. (No. 8).
- For full-year 2018, athletic wear brand Under Armour Inc. (No. 34) grew direct-to-consumer revenue 4% to $1.8 billion in 2018. Net revenue increased a modest 4.0% to $5.19 billion from $4.99 billion in 2017. Direct-to-consumer sales include revenue from its ecommerce operations and its retail stores. While Under Armour doesn’t break out ecommerce in its earnings filings, in an investor presentation in December the company said digital sales represent 12% of net sales. That would mean ecommerce sales hit $622.8 million in 2018. By 2023, the company expects digital sales will account for 15% of total sales. In North America, which represents nearly 75% of total revenue, it operates two ecommerce sites and 180 retail stores. In the rest of the world, Under Armour operates 32 ecommerce sites and 788 stores. Ecommerce accounts for 7% of sales in Europe, Middle East and Latin America, 5% in Latin America and 24% in Asia.
- For the year ended Dec. 31, Groupon Inc.’s (No. 41) total revenue declined 7.0% to $2.64 billion from $2.84 billion a year ago. Its Goods revenue, which excludes revenue from services and experiences it sells, totaled $1.43 billion, down 8.9% from $1.57 billion in 2017.