false00016905112022FYP1MP3MP1MP3M00016905112021-03-292022-04-030001690511dei:BusinessContactMember2021-03-292022-04-030001690511goos:SubordinateVotingSharesMember2022-04-03xbrli:shares0001690511goos:MultipleVotingSharesMember2022-04-03iso4217:CAD00016905112020-03-302021-03-2800016905112019-04-012020-03-29iso4217:CADxbrli:shares00016905112022-04-0300016905112021-03-2800016905112020-03-290001690511goos:MultipleVotingSharesMemberifrs-full:IssuedCapitalMember2019-03-310001690511ifrs-full:IssuedCapitalMembergoos:SubordinateVotingSharesMember2019-03-310001690511ifrs-full:IssuedCapitalMember2019-03-310001690511ifrs-full:AdditionalPaidinCapitalMember2019-03-310001690511ifrs-full:RetainedEarningsMember2019-03-310001690511ifrs-full:AccumulatedOtherComprehensiveIncomeMember2019-03-3100016905112019-03-310001690511ifrs-full:RetainedEarningsMemberifrs-full:IncreaseDecreaseDueToChangesInAccountingPolicyRequiredByIFRSsCumulativeEffectAtDateOfInitialApplicationMember2019-03-310001690511ifrs-full:IncreaseDecreaseDueToChangesInAccountingPolicyRequiredByIFRSsCumulativeEffectAtDateOfInitialApplicationMember2019-03-310001690511goos:MultipleVotingSharesMemberifrs-full:OpeningBalanceAfterAdjustmentCumulativeEffectAtDateOfInitialApplicationMemberifrs-full:IssuedCapitalMember2019-03-310001690511ifrs-full:OpeningBalanceAfterAdjustmentCumulativeEffectAtDateOfInitialApplicationMemberifrs-full:IssuedCapitalMembergoos:SubordinateVotingSharesMember2019-03-310001690511ifrs-full:OpeningBalanceAfterAdjustmentCumulativeEffectAtDateOfInitialApplicationMemberifrs-full:IssuedCapitalMember2019-03-310001690511ifrs-full:OpeningBalanceAfterAdjustmentCumulativeEffectAtDateOfInitialApplicationMemberifrs-full:AdditionalPaidinCapitalMember2019-03-310001690511ifrs-full:RetainedEarningsMemberifrs-full:OpeningBalanceAfterAdjustmentCumulativeEffectAtDateOfInitialApplicationMember2019-03-310001690511ifrs-full:OpeningBalanceAfterAdjustmentCumulativeEffectAtDateOfInitialApplicationMemberifrs-full:AccumulatedOtherComprehensiveIncomeMember2019-03-310001690511ifrs-full:OpeningBalanceAfterAdjustmentCumulativeEffectAtDateOfInitialApplicationMember2019-03-310001690511ifrs-full:RetainedEarningsMembergoos:IFRS16Member2020-03-290001690511goos:IFRS16Member2020-03-290001690511ifrs-full:IssuedCapitalMembergoos:SubordinateVotingSharesMember2019-04-012020-03-290001690511ifrs-full:IssuedCapitalMember2019-04-012020-03-290001690511ifrs-full:RetainedEarningsMember2019-04-012020-03-290001690511ifrs-full:AdditionalPaidinCapitalMember2019-04-012020-03-290001690511ifrs-full:AccumulatedOtherComprehensiveIncomeMember2019-04-012020-03-290001690511goos:MultipleVotingSharesMemberifrs-full:IssuedCapitalMember2020-03-290001690511ifrs-full:IssuedCapitalMembergoos:SubordinateVotingSharesMember2020-03-290001690511ifrs-full:IssuedCapitalMember2020-03-290001690511ifrs-full:AdditionalPaidinCapitalMember2020-03-290001690511ifrs-full:RetainedEarningsMember2020-03-290001690511ifrs-full:AccumulatedOtherComprehensiveIncomeMember2020-03-290001690511ifrs-full:IssuedCapitalMembergoos:SubordinateVotingSharesMember2020-03-302021-03-280001690511ifrs-full:IssuedCapitalMember2020-03-302021-03-280001690511ifrs-full:AdditionalPaidinCapitalMember2020-03-302021-03-280001690511ifrs-full:RetainedEarningsMember2020-03-302021-03-280001690511ifrs-full:AccumulatedOtherComprehensiveIncomeMember2020-03-302021-03-280001690511goos:MultipleVotingSharesMemberifrs-full:IssuedCapitalMember2021-03-280001690511ifrs-full:IssuedCapitalMembergoos:SubordinateVotingSharesMember2021-03-280001690511ifrs-full:IssuedCapitalMember2021-03-280001690511ifrs-full:AdditionalPaidinCapitalMember2021-03-280001690511ifrs-full:RetainedEarningsMember2021-03-280001690511ifrs-full:AccumulatedOtherComprehensiveIncomeMember2021-03-280001690511ifrs-full:IssuedCapitalMembergoos:SubordinateVotingSharesMember2021-03-292022-04-030001690511ifrs-full:IssuedCapitalMember2021-03-292022-04-030001690511ifrs-full:RetainedEarningsMember2021-03-292022-04-030001690511ifrs-full:AdditionalPaidinCapitalMember2021-03-292022-04-030001690511ifrs-full:AccumulatedOtherComprehensiveIncomeMember2021-03-292022-04-030001690511goos:MultipleVotingSharesMemberifrs-full:IssuedCapitalMember2022-04-030001690511ifrs-full:IssuedCapitalMembergoos:SubordinateVotingSharesMember2022-04-030001690511ifrs-full:IssuedCapitalMember2022-04-030001690511ifrs-full:AdditionalPaidinCapitalMember2022-04-030001690511ifrs-full:RetainedEarningsMember2022-04-030001690511ifrs-full:AccumulatedOtherComprehensiveIncomeMember2022-04-03xbrli:puregoos:segmentgoos:store0001690511ifrs-full:MachineryMember2021-03-292022-04-030001690511goos:FootwearMouldsMember2021-03-292022-04-030001690511ifrs-full:ComputerEquipmentMember2021-03-292022-04-030001690511goos:ShowDisplaysMember2021-03-292022-04-030001690511ifrs-full:BottomOfRangeMemberifrs-full:FixturesAndFittingsMember2021-03-292022-04-030001690511ifrs-full:FixturesAndFittingsMemberifrs-full:TopOfRangeMember2021-03-292022-04-030001690511ifrs-full:BottomOfRangeMemberifrs-full:ComputerSoftwareMember2021-03-292022-04-030001690511ifrs-full:ComputerSoftwareMemberifrs-full:TopOfRangeMember2021-03-292022-04-030001690511ifrs-full:BottomOfRangeMemberifrs-full:CapitalisedDevelopmentExpenditureMember2021-03-292022-04-030001690511ifrs-full:CapitalisedDevelopmentExpenditureMemberifrs-full:TopOfRangeMember2021-03-292022-04-03goos:cashGeneratingUnitgoos:type0001690511goos:ServiceVestedOptionsMember2021-03-292022-04-030001690511goos:PerformanceBasedOptionsMember2021-03-292022-04-030001690511srt:RevisionOfPriorPeriodAccountingStandardsUpdateAdjustmentMember2019-04-010001690511srt:ScenarioPreviouslyReportedMember2020-03-302021-03-280001690511srt:RevisionOfPriorPeriodAccountingStandardsUpdateAdjustmentMember2020-03-302021-03-280001690511srt:ScenarioPreviouslyReportedMember2019-04-012020-03-290001690511srt:RevisionOfPriorPeriodAccountingStandardsUpdateAdjustmentMember2019-04-012020-03-290001690511srt:ScenarioPreviouslyReportedMember2021-03-280001690511srt:RevisionOfPriorPeriodAccountingStandardsUpdateAdjustmentMember2021-03-280001690511srt:ScenarioPreviouslyReportedMember2020-03-290001690511srt:RevisionOfPriorPeriodAccountingStandardsUpdateAdjustmentMember2020-03-290001690511srt:ScenarioPreviouslyReportedMember2019-04-0100016905112019-04-010001690511goos:TermLoanMember2022-04-030001690511goos:DirectToConsumerMember2021-03-292022-04-030001690511goos:WholesaleMember2021-03-292022-04-030001690511goos:OtherSegmentMember2021-03-292022-04-030001690511goos:DirectToConsumerMember2020-03-302021-03-280001690511goos:WholesaleMember2020-03-302021-03-280001690511goos:OtherSegmentMember2020-03-302021-03-280001690511goos:DirectToConsumerMember2019-04-012020-03-290001690511goos:WholesaleMember2019-04-012020-03-290001690511goos:OtherSegmentMember2019-04-012020-03-290001690511country:CA2021-03-292022-04-030001690511country:CA2020-03-302021-03-280001690511country:CA2019-04-012020-03-290001690511country:US2021-03-292022-04-030001690511country:US2020-03-302021-03-280001690511country:US2019-04-012020-03-290001690511srt:AsiaMember2021-03-292022-04-030001690511srt:AsiaMember2020-03-302021-03-280001690511srt:AsiaMember2019-04-012020-03-290001690511goos:EMEAMember2021-03-292022-04-030001690511goos:EMEAMember2020-03-302021-03-280001690511goos:EMEAMember2019-04-012020-03-290001690511ifrs-full:UnusedTaxLossesMember2021-03-280001690511ifrs-full:UnusedTaxLossesMember2021-03-292022-04-030001690511ifrs-full:UnusedTaxLossesMember2022-04-030001690511goos:TemporaryDifferencesEmployeeFutureBenefitsMember2021-03-280001690511goos:TemporaryDifferencesEmployeeFutureBenefitsMember2021-03-292022-04-030001690511goos:TemporaryDifferencesEmployeeFutureBenefitsMember2022-04-030001690511ifrs-full:OtherTemporaryDifferencesMember2021-03-280001690511ifrs-full:OtherTemporaryDifferencesMember2021-03-292022-04-030001690511ifrs-full:OtherTemporaryDifferencesMember2022-04-030001690511goos:TemporaryDifferenceInventoryCapitalizationMember2021-03-280001690511goos:TemporaryDifferenceInventoryCapitalizationMember2021-03-292022-04-030001690511goos:TemporaryDifferenceInventoryCapitalizationMember2022-04-030001690511goos:TemporaryDifferenceCapitalLeaseMember2021-03-280001690511goos:TemporaryDifferenceCapitalLeaseMember2021-03-292022-04-030001690511goos:TemporaryDifferenceCapitalLeaseMember2022-04-030001690511goos:TemporaryDifferenceTaxReliefFromSwissTaxReformMember2021-03-280001690511goos:TemporaryDifferenceTaxReliefFromSwissTaxReformMember2021-03-292022-04-030001690511goos:TemporaryDifferenceTaxReliefFromSwissTaxReformMember2022-04-030001690511goos:UnrealizedProfitInInventoryMember2021-03-280001690511goos:UnrealizedProfitInInventoryMember2021-03-292022-04-030001690511goos:UnrealizedProfitInInventoryMember2022-04-030001690511goos:ProvisionsMember2021-03-280001690511goos:ProvisionsMember2021-03-292022-04-030001690511goos:ProvisionsMember2022-04-030001690511goos:TotalDeferredTaxAssetMember2021-03-280001690511goos:TotalDeferredTaxAssetMember2021-03-292022-04-030001690511goos:TotalDeferredTaxAssetMember2022-04-030001690511ifrs-full:UnrealisedForeignExchangeGainsLossesMember2021-03-280001690511ifrs-full:UnrealisedForeignExchangeGainsLossesMember2021-03-292022-04-030001690511ifrs-full:UnrealisedForeignExchangeGainsLossesMember2022-04-030001690511goos:TemporaryDifferencesIntangibleAssetsOtherThanGoodwillMember2021-03-280001690511goos:TemporaryDifferencesIntangibleAssetsOtherThanGoodwillMember2021-03-292022-04-030001690511goos:TemporaryDifferencesIntangibleAssetsOtherThanGoodwillMember2022-04-030001690511goos:TemporaryDifferencesPropertyPlantAndEquipmentMember2021-03-280001690511goos:TemporaryDifferencesPropertyPlantAndEquipmentMember2021-03-292022-04-030001690511goos:TemporaryDifferencesPropertyPlantAndEquipmentMember2022-04-030001690511goos:TotalDeferredTaxLiabilitiesMember2021-03-280001690511goos:TotalDeferredTaxLiabilitiesMember2021-03-292022-04-030001690511goos:TotalDeferredTaxLiabilitiesMember2022-04-030001690511goos:DeferredTaxAssetsMember2021-03-292022-04-030001690511goos:DeferredTaxLiabilitiesMember2021-03-292022-04-030001690511goos:NonCapitalLossesMember2021-03-292022-04-030001690511goos:NotLaterThanSeventeenYearsMember2022-04-030001690511goos:LaterThanSeventeenYearsAndNotLaterThanEighteenYearsMember2022-04-030001690511goos:LaterThanEighteenYearsAndNotLaterThanNineteenYearsMember2022-04-030001690511goos:LaterThanNineteenYearsAndNotLaterThanTwentyYearsMember2022-04-030001690511goos:LaterThanTwentyYearsAndNotLaterThanTwentyOneYearsMember2022-04-030001690511goos:LaterThanTwentyOneYearsMember2022-04-030001690511goos:StockOptionsMember2021-03-292022-04-030001690511goos:StockOptionsMember2020-03-302021-03-280001690511goos:StockOptionsMembersrt:MaximumMember2019-04-012020-03-290001690511goos:RestrictedStockUnitsMember2021-03-292022-04-030001690511goos:ExpectedCreditLossMember2021-03-280001690511goos:SalesAllowancesMember2021-03-280001690511goos:ExpectedCreditLossMember2020-03-290001690511goos:SalesAllowancesMember2020-03-290001690511goos:ExpectedCreditLossMember2021-03-292022-04-030001690511goos:SalesAllowancesMember2021-03-292022-04-030001690511goos:ExpectedCreditLossMember2020-03-302021-03-280001690511goos:SalesAllowancesMember2020-03-302021-03-280001690511goos:ExpectedCreditLossMember2022-04-030001690511goos:SalesAllowancesMember2022-04-030001690511ifrs-full:MachineryMemberifrs-full:GrossCarryingAmountMember2020-03-290001690511ifrs-full:GrossCarryingAmountMemberifrs-full:ComputerEquipmentMember2020-03-290001690511ifrs-full:LeaseholdImprovementsMemberifrs-full:GrossCarryingAmountMember2020-03-290001690511ifrs-full:GrossCarryingAmountMembergoos:ShowDisplaysMember2020-03-290001690511ifrs-full:FixturesAndFittingsMemberifrs-full:GrossCarryingAmountMember2020-03-290001690511ifrs-full:ConstructionInProgressMemberifrs-full:GrossCarryingAmountMember2020-03-290001690511ifrs-full:GrossCarryingAmountMember2020-03-290001690511ifrs-full:MachineryMemberifrs-full:GrossCarryingAmountMember2020-03-302021-03-280001690511ifrs-full:GrossCarryingAmountMemberifrs-full:ComputerEquipmentMember2020-03-302021-03-280001690511ifrs-full:LeaseholdImprovementsMemberifrs-full:GrossCarryingAmountMember2020-03-302021-03-280001690511ifrs-full:GrossCarryingAmountMembergoos:ShowDisplaysMember2020-03-302021-03-280001690511ifrs-full:FixturesAndFittingsMemberifrs-full:GrossCarryingAmountMember2020-03-302021-03-280001690511ifrs-full:ConstructionInProgressMemberifrs-full:GrossCarryingAmountMember2020-03-302021-03-280001690511ifrs-full:GrossCarryingAmountMember2020-03-302021-03-280001690511ifrs-full:MachineryMemberifrs-full:GrossCarryingAmountMember2021-03-280001690511ifrs-full:GrossCarryingAmountMemberifrs-full:ComputerEquipmentMember2021-03-280001690511ifrs-full:LeaseholdImprovementsMemberifrs-full:GrossCarryingAmountMember2021-03-280001690511ifrs-full:GrossCarryingAmountMembergoos:ShowDisplaysMember2021-03-280001690511ifrs-full:FixturesAndFittingsMemberifrs-full:GrossCarryingAmountMember2021-03-280001690511ifrs-full:ConstructionInProgressMemberifrs-full:GrossCarryingAmountMember2021-03-280001690511ifrs-full:GrossCarryingAmountMember2021-03-280001690511ifrs-full:MachineryMemberifrs-full:GrossCarryingAmountMember2021-03-292022-04-030001690511ifrs-full:GrossCarryingAmountMemberifrs-full:ComputerEquipmentMember2021-03-292022-04-030001690511ifrs-full:LeaseholdImprovementsMemberifrs-full:GrossCarryingAmountMember2021-03-292022-04-030001690511ifrs-full:GrossCarryingAmountMembergoos:ShowDisplaysMember2021-03-292022-04-030001690511ifrs-full:FixturesAndFittingsMemberifrs-full:GrossCarryingAmountMember2021-03-292022-04-030001690511ifrs-full:ConstructionInProgressMemberifrs-full:GrossCarryingAmountMember2021-03-292022-04-030001690511ifrs-full:GrossCarryingAmountMember2021-03-292022-04-030001690511ifrs-full:MachineryMemberifrs-full:GrossCarryingAmountMember2022-04-030001690511ifrs-full:GrossCarryingAmountMemberifrs-full:ComputerEquipmentMember2022-04-030001690511ifrs-full:LeaseholdImprovementsMemberifrs-full:GrossCarryingAmountMember2022-04-030001690511ifrs-full:GrossCarryingAmountMembergoos:ShowDisplaysMember2022-04-030001690511ifrs-full:FixturesAndFittingsMemberifrs-full:GrossCarryingAmountMember2022-04-030001690511ifrs-full:ConstructionInProgressMemberifrs-full:GrossCarryingAmountMember2022-04-030001690511ifrs-full:GrossCarryingAmountMember2022-04-030001690511ifrs-full:MachineryMemberifrs-full:AccumulatedDepreciationAndAmortisationMember2020-03-290001690511ifrs-full:AccumulatedDepreciationAndAmortisationMemberifrs-full:ComputerEquipmentMember2020-03-290001690511ifrs-full:AccumulatedDepreciationAndAmortisationMemberifrs-full:LeaseholdImprovementsMember2020-03-290001690511ifrs-full:AccumulatedDepreciationAndAmortisationMembergoos:ShowDisplaysMember2020-03-290001690511ifrs-full:FixturesAndFittingsMemberifrs-full:AccumulatedDepreciationAndAmortisationMember2020-03-290001690511ifrs-full:ConstructionInProgressMemberifrs-full:AccumulatedDepreciationAndAmortisationMember2020-03-290001690511ifrs-full:AccumulatedDepreciationAndAmortisationMember2020-03-290001690511ifrs-full:MachineryMemberifrs-full:AccumulatedDepreciationAndAmortisationMember2020-03-302021-03-280001690511ifrs-full:AccumulatedDepreciationAndAmortisationMemberifrs-full:ComputerEquipmentMember2020-03-302021-03-280001690511ifrs-full:AccumulatedDepreciationAndAmortisationMemberifrs-full:LeaseholdImprovementsMember2020-03-302021-03-280001690511ifrs-full:AccumulatedDepreciationAndAmortisationMembergoos:ShowDisplaysMember2020-03-302021-03-280001690511ifrs-full:FixturesAndFittingsMemberifrs-full:AccumulatedDepreciationAndAmortisationMember2020-03-302021-03-280001690511ifrs-full:ConstructionInProgressMemberifrs-full:AccumulatedDepreciationAndAmortisationMember2020-03-302021-03-280001690511ifrs-full:AccumulatedDepreciationAndAmortisationMember2020-03-302021-03-280001690511ifrs-full:MachineryMemberifrs-full:AccumulatedDepreciationAndAmortisationMember2021-03-280001690511ifrs-full:AccumulatedDepreciationAndAmortisationMemberifrs-full:ComputerEquipmentMember2021-03-280001690511ifrs-full:AccumulatedDepreciationAndAmortisationMemberifrs-full:LeaseholdImprovementsMember2021-03-280001690511ifrs-full:AccumulatedDepreciationAndAmortisationMembergoos:ShowDisplaysMember2021-03-280001690511ifrs-full:FixturesAndFittingsMemberifrs-full:AccumulatedDepreciationAndAmortisationMember2021-03-280001690511ifrs-full:ConstructionInProgressMemberifrs-full:AccumulatedDepreciationAndAmortisationMember2021-03-280001690511ifrs-full:AccumulatedDepreciationAndAmortisationMember2021-03-280001690511ifrs-full:MachineryMemberifrs-full:AccumulatedDepreciationAndAmortisationMember2021-03-292022-04-030001690511ifrs-full:AccumulatedDepreciationAndAmortisationMemberifrs-full:ComputerEquipmentMember2021-03-292022-04-030001690511ifrs-full:AccumulatedDepreciationAndAmortisationMemberifrs-full:LeaseholdImprovementsMember2021-03-292022-04-030001690511ifrs-full:AccumulatedDepreciationAndAmortisationMembergoos:ShowDisplaysMember2021-03-292022-04-030001690511ifrs-full:FixturesAndFittingsMemberifrs-full:AccumulatedDepreciationAndAmortisationMember2021-03-292022-04-030001690511ifrs-full:ConstructionInProgressMemberifrs-full:AccumulatedDepreciationAndAmortisationMember2021-03-292022-04-030001690511ifrs-full:AccumulatedDepreciationAndAmortisationMember2021-03-292022-04-030001690511ifrs-full:MachineryMemberifrs-full:AccumulatedDepreciationAndAmortisationMember2022-04-030001690511ifrs-full:AccumulatedDepreciationAndAmortisationMemberifrs-full:ComputerEquipmentMember2022-04-030001690511ifrs-full:AccumulatedDepreciationAndAmortisationMemberifrs-full:LeaseholdImprovementsMember2022-04-030001690511ifrs-full:AccumulatedDepreciationAndAmortisationMembergoos:ShowDisplaysMember2022-04-030001690511ifrs-full:FixturesAndFittingsMemberifrs-full:AccumulatedDepreciationAndAmortisationMember2022-04-030001690511ifrs-full:ConstructionInProgressMemberifrs-full:AccumulatedDepreciationAndAmortisationMember2022-04-030001690511ifrs-full:AccumulatedDepreciationAndAmortisationMember2022-04-030001690511ifrs-full:MachineryMember2021-03-280001690511ifrs-full:ComputerEquipmentMember2021-03-280001690511ifrs-full:LeaseholdImprovementsMember2021-03-280001690511goos:ShowDisplaysMember2021-03-280001690511ifrs-full:FixturesAndFittingsMember2021-03-280001690511ifrs-full:ConstructionInProgressMember2021-03-280001690511ifrs-full:MachineryMember2022-04-030001690511ifrs-full:ComputerEquipmentMember2022-04-030001690511ifrs-full:LeaseholdImprovementsMember2022-04-030001690511goos:ShowDisplaysMember2022-04-030001690511ifrs-full:FixturesAndFittingsMember2022-04-030001690511ifrs-full:ConstructionInProgressMember2022-04-030001690511goos:IntangibleAssetsWithFiniteUsefulLifeMember2022-04-030001690511goos:IntangibleAssetsWithFiniteUsefulLifeMember2021-03-280001690511ifrs-full:IntangibleAssetsWithIndefiniteUsefulLifeMemberifrs-full:BrandNamesMember2022-04-030001690511ifrs-full:IntangibleAssetsWithIndefiniteUsefulLifeMemberifrs-full:BrandNamesMember2021-03-280001690511ifrs-full:IntangibleAssetsWithIndefiniteUsefulLifeMembergoos:DomainnameMember2022-04-030001690511ifrs-full:IntangibleAssetsWithIndefiniteUsefulLifeMembergoos:DomainnameMember2021-03-280001690511ifrs-full:ComputerSoftwareMembergoos:IntangibleAssetsWithFiniteUsefulLifeMemberifrs-full:GrossCarryingAmountMember2020-03-290001690511goos:IntangibleAssetsWithFiniteUsefulLifeMemberifrs-full:GrossCarryingAmountMemberifrs-full:CapitalisedDevelopmentExpenditureMember2020-03-290001690511goos:IntangibleAssetsWithFiniteUsefulLifeMemberifrs-full:GrossCarryingAmountMember2020-03-290001690511ifrs-full:ComputerSoftwareMembergoos:IntangibleAssetsWithFiniteUsefulLifeMemberifrs-full:GrossCarryingAmountMember2020-03-302021-03-280001690511goos:IntangibleAssetsWithFiniteUsefulLifeMemberifrs-full:GrossCarryingAmountMemberifrs-full:CapitalisedDevelopmentExpenditureMember2020-03-302021-03-280001690511goos:IntangibleAssetsWithFiniteUsefulLifeMemberifrs-full:GrossCarryingAmountMember2020-03-302021-03-280001690511ifrs-full:ComputerSoftwareMembergoos:IntangibleAssetsWithFiniteUsefulLifeMemberifrs-full:GrossCarryingAmountMember2021-03-280001690511goos:IntangibleAssetsWithFiniteUsefulLifeMemberifrs-full:GrossCarryingAmountMemberifrs-full:CapitalisedDevelopmentExpenditureMember2021-03-280001690511goos:IntangibleAssetsWithFiniteUsefulLifeMemberifrs-full:GrossCarryingAmountMember2021-03-280001690511ifrs-full:ComputerSoftwareMembergoos:IntangibleAssetsWithFiniteUsefulLifeMemberifrs-full:GrossCarryingAmountMember2021-03-292022-04-030001690511goos:IntangibleAssetsWithFiniteUsefulLifeMemberifrs-full:GrossCarryingAmountMemberifrs-full:CapitalisedDevelopmentExpenditureMember2021-03-292022-04-030001690511goos:IntangibleAssetsWithFiniteUsefulLifeMemberifrs-full:GrossCarryingAmountMember2021-03-292022-04-030001690511ifrs-full:ComputerSoftwareMembergoos:IntangibleAssetsWithFiniteUsefulLifeMemberifrs-full:GrossCarryingAmountMember2022-04-030001690511goos:IntangibleAssetsWithFiniteUsefulLifeMemberifrs-full:GrossCarryingAmountMemberifrs-full:CapitalisedDevelopmentExpenditureMember2022-04-030001690511goos:IntangibleAssetsWithFiniteUsefulLifeMemberifrs-full:GrossCarryingAmountMember2022-04-030001690511ifrs-full:ComputerSoftwareMembergoos:IntangibleAssetsWithFiniteUsefulLifeMemberifrs-full:AccumulatedDepreciationAndAmortisationMember2020-03-290001690511goos:IntangibleAssetsWithFiniteUsefulLifeMemberifrs-full:AccumulatedDepreciationAndAmortisationMemberifrs-full:CapitalisedDevelopmentExpenditureMember2020-03-290001690511goos:IntangibleAssetsWithFiniteUsefulLifeMemberifrs-full:AccumulatedDepreciationAndAmortisationMember2020-03-290001690511ifrs-full:ComputerSoftwareMembergoos:IntangibleAssetsWithFiniteUsefulLifeMemberifrs-full:AccumulatedDepreciationAndAmortisationMember2020-03-302021-03-280001690511goos:IntangibleAssetsWithFiniteUsefulLifeMemberifrs-full:AccumulatedDepreciationAndAmortisationMemberifrs-full:CapitalisedDevelopmentExpenditureMember2020-03-302021-03-280001690511goos:IntangibleAssetsWithFiniteUsefulLifeMemberifrs-full:AccumulatedDepreciationAndAmortisationMember2020-03-302021-03-280001690511ifrs-full:ComputerSoftwareMembergoos:IntangibleAssetsWithFiniteUsefulLifeMemberifrs-full:AccumulatedDepreciationAndAmortisationMember2021-03-280001690511goos:IntangibleAssetsWithFiniteUsefulLifeMemberifrs-full:AccumulatedDepreciationAndAmortisationMemberifrs-full:CapitalisedDevelopmentExpenditureMember2021-03-280001690511goos:IntangibleAssetsWithFiniteUsefulLifeMemberifrs-full:AccumulatedDepreciationAndAmortisationMember2021-03-280001690511ifrs-full:ComputerSoftwareMembergoos:IntangibleAssetsWithFiniteUsefulLifeMemberifrs-full:AccumulatedDepreciationAndAmortisationMember2021-03-292022-04-030001690511goos:IntangibleAssetsWithFiniteUsefulLifeMemberifrs-full:AccumulatedDepreciationAndAmortisationMemberifrs-full:CapitalisedDevelopmentExpenditureMember2021-03-292022-04-030001690511goos:IntangibleAssetsWithFiniteUsefulLifeMemberifrs-full:AccumulatedDepreciationAndAmortisationMember2021-03-292022-04-030001690511ifrs-full:ComputerSoftwareMembergoos:IntangibleAssetsWithFiniteUsefulLifeMemberifrs-full:AccumulatedDepreciationAndAmortisationMember2022-04-030001690511goos:IntangibleAssetsWithFiniteUsefulLifeMemberifrs-full:AccumulatedDepreciationAndAmortisationMemberifrs-full:CapitalisedDevelopmentExpenditureMember2022-04-030001690511goos:IntangibleAssetsWithFiniteUsefulLifeMemberifrs-full:AccumulatedDepreciationAndAmortisationMember2022-04-030001690511ifrs-full:ComputerSoftwareMembergoos:IntangibleAssetsWithFiniteUsefulLifeMember2021-03-280001690511goos:IntangibleAssetsWithFiniteUsefulLifeMemberifrs-full:CapitalisedDevelopmentExpenditureMember2021-03-280001690511ifrs-full:ComputerSoftwareMembergoos:IntangibleAssetsWithFiniteUsefulLifeMember2022-04-030001690511goos:IntangibleAssetsWithFiniteUsefulLifeMemberifrs-full:CapitalisedDevelopmentExpenditureMember2022-04-030001690511ifrs-full:GrossCarryingAmountMembergoos:RightOfUseAssetsRetailStoresMember2020-03-290001690511ifrs-full:GrossCarryingAmountMembergoos:RightOfUseAssetsManufacturingFacilitiesMember2020-03-290001690511goos:RightOfUseAssetsOtherMemberifrs-full:GrossCarryingAmountMember2020-03-290001690511ifrs-full:GrossCarryingAmountMembergoos:RightOfUseAssetsRetailStoresMember2020-03-302021-03-280001690511ifrs-full:GrossCarryingAmountMembergoos:RightOfUseAssetsManufacturingFacilitiesMember2020-03-302021-03-280001690511goos:RightOfUseAssetsOtherMemberifrs-full:GrossCarryingAmountMember2020-03-302021-03-280001690511ifrs-full:GrossCarryingAmountMembergoos:RightOfUseAssetsRetailStoresMember2021-03-292022-04-030001690511ifrs-full:GrossCarryingAmountMembergoos:RightOfUseAssetsManufacturingFacilitiesMember2021-03-292022-04-030001690511goos:RightOfUseAssetsOtherMemberifrs-full:GrossCarryingAmountMember2021-03-292022-04-030001690511ifrs-full:GrossCarryingAmountMembergoos:RightOfUseAssetsRetailStoresMember2021-03-280001690511ifrs-full:GrossCarryingAmountMembergoos:RightOfUseAssetsManufacturingFacilitiesMember2021-03-280001690511goos:RightOfUseAssetsOtherMemberifrs-full:GrossCarryingAmountMember2021-03-280001690511ifrs-full:GrossCarryingAmountMembergoos:RightOfUseAssetsRetailStoresMember2022-04-030001690511ifrs-full:GrossCarryingAmountMembergoos:RightOfUseAssetsManufacturingFacilitiesMember2022-04-030001690511goos:RightOfUseAssetsOtherMemberifrs-full:GrossCarryingAmountMember2022-04-030001690511ifrs-full:AccumulatedDepreciationAndAmortisationMembergoos:RightOfUseAssetsRetailStoresMember2020-03-290001690511ifrs-full:AccumulatedDepreciationAndAmortisationMembergoos:RightOfUseAssetsManufacturingFacilitiesMember2020-03-290001690511goos:RightOfUseAssetsOtherMemberifrs-full:AccumulatedDepreciationAndAmortisationMember2020-03-290001690511ifrs-full:AccumulatedDepreciationAndAmortisationMembergoos:RightOfUseAssetsRetailStoresMember2020-03-302021-03-280001690511ifrs-full:AccumulatedDepreciationAndAmortisationMembergoos:RightOfUseAssetsManufacturingFacilitiesMember2020-03-302021-03-280001690511goos:RightOfUseAssetsOtherMemberifrs-full:AccumulatedDepreciationAndAmortisationMember2020-03-302021-03-280001690511ifrs-full:AccumulatedDepreciationAndAmortisationMembergoos:RightOfUseAssetsRetailStoresMember2021-03-280001690511ifrs-full:AccumulatedDepreciationAndAmortisationMembergoos:RightOfUseAssetsManufacturingFacilitiesMember2021-03-280001690511goos:RightOfUseAssetsOtherMemberifrs-full:AccumulatedDepreciationAndAmortisationMember2021-03-280001690511ifrs-full:AccumulatedDepreciationAndAmortisationMembergoos:RightOfUseAssetsRetailStoresMember2021-03-292022-04-030001690511ifrs-full:AccumulatedDepreciationAndAmortisationMembergoos:RightOfUseAssetsManufacturingFacilitiesMember2021-03-292022-04-030001690511goos:RightOfUseAssetsOtherMemberifrs-full:AccumulatedDepreciationAndAmortisationMember2021-03-292022-04-030001690511ifrs-full:AccumulatedDepreciationAndAmortisationMembergoos:RightOfUseAssetsRetailStoresMember2022-04-030001690511ifrs-full:AccumulatedDepreciationAndAmortisationMembergoos:RightOfUseAssetsManufacturingFacilitiesMember2022-04-030001690511goos:RightOfUseAssetsOtherMemberifrs-full:AccumulatedDepreciationAndAmortisationMember2022-04-030001690511goos:RightOfUseAssetsRetailStoresMember2021-03-280001690511goos:RightOfUseAssetsManufacturingFacilitiesMember2021-03-280001690511goos:RightOfUseAssetsOtherMember2021-03-280001690511goos:RightOfUseAssetsRetailStoresMember2022-04-030001690511goos:RightOfUseAssetsManufacturingFacilitiesMember2022-04-030001690511goos:RightOfUseAssetsOtherMember2022-04-030001690511goos:LeaseLiabilitiesRetailStoresMember2020-03-290001690511goos:LeaseLiabilitiesManufacturingFacilitiesMember2020-03-290001690511goos:LeaseLiabilitiesOtherMember2020-03-290001690511goos:LeaseLiabilitiesRetailStoresMember2020-03-302021-03-280001690511goos:LeaseLiabilitiesManufacturingFacilitiesMember2020-03-302021-03-280001690511goos:LeaseLiabilitiesOtherMember2020-03-302021-03-280001690511goos:LeaseLiabilitiesRetailStoresMember2021-03-280001690511goos:LeaseLiabilitiesManufacturingFacilitiesMember2021-03-280001690511goos:LeaseLiabilitiesOtherMember2021-03-280001690511goos:LeaseLiabilitiesRetailStoresMember2021-03-292022-04-030001690511goos:LeaseLiabilitiesManufacturingFacilitiesMember2021-03-292022-04-030001690511goos:LeaseLiabilitiesOtherMember2021-03-292022-04-030001690511goos:LeaseLiabilitiesRetailStoresMember2022-04-030001690511goos:LeaseLiabilitiesManufacturingFacilitiesMember2022-04-030001690511goos:LeaseLiabilitiesOtherMember2022-04-030001690511ifrs-full:GoodwillMember2022-04-030001690511ifrs-full:GoodwillMember2021-03-280001690511srt:NorthAmericaMembergoos:DirectToConsumerRetailMember2022-04-030001690511goos:DirectToConsumerRetailMembersrt:AsiaMember2022-04-030001690511goos:DirectToConsumerRetailMembergoos:EMEAMember2022-04-030001690511goos:DirectToConsumerRetailMember2022-04-030001690511goos:DirectToConsumerECommerceMembersrt:NorthAmericaMember2022-04-030001690511goos:DirectToConsumerECommerceMembersrt:AsiaMember2022-04-030001690511goos:DirectToConsumerECommerceMembergoos:EMEAMember2022-04-030001690511goos:DirectToConsumerECommerceMember2022-04-030001690511srt:NorthAmericaMembergoos:WholesaleMember2022-04-030001690511goos:WholesaleMembersrt:AsiaMember2022-04-030001690511goos:EMEAMembergoos:WholesaleMember2022-04-030001690511goos:WholesaleMember2022-04-030001690511srt:NorthAmericaMember2022-04-030001690511srt:AsiaMember2022-04-030001690511goos:EMEAMember2022-04-030001690511srt:NorthAmericaMembergoos:DirectToConsumerRetailMember2021-03-280001690511goos:RestOfTheWorldMembergoos:DirectToConsumerRetailMember2021-03-280001690511goos:DirectToConsumerRetailMember2021-03-280001690511goos:DirectToConsumerECommerceMembersrt:NorthAmericaMember2021-03-280001690511goos:DirectToConsumerECommerceMembergoos:RestOfTheWorldMember2021-03-280001690511goos:DirectToConsumerECommerceMember2021-03-280001690511srt:NorthAmericaMembergoos:WholesaleMember2021-03-280001690511goos:RestOfTheWorldMembergoos:WholesaleMember2021-03-280001690511goos:WholesaleMember2021-03-280001690511srt:NorthAmericaMember2021-03-280001690511goos:RestOfTheWorldMember2021-03-280001690511ifrs-full:WarrantyProvisionMember2020-03-290001690511ifrs-full:RefundsProvisionMember2020-03-290001690511goos:AssetRetirementObligationsMember2020-03-290001690511ifrs-full:MiscellaneousOtherProvisionsMember2020-03-290001690511ifrs-full:WarrantyProvisionMember2020-03-302021-03-280001690511ifrs-full:RefundsProvisionMember2020-03-302021-03-280001690511goos:AssetRetirementObligationsMember2020-03-302021-03-280001690511ifrs-full:MiscellaneousOtherProvisionsMember2020-03-302021-03-280001690511ifrs-full:WarrantyProvisionMember2021-03-280001690511ifrs-full:RefundsProvisionMember2021-03-280001690511goos:AssetRetirementObligationsMember2021-03-280001690511ifrs-full:MiscellaneousOtherProvisionsMember2021-03-280001690511ifrs-full:WarrantyProvisionMember2021-03-292022-04-030001690511ifrs-full:RefundsProvisionMember2021-03-292022-04-030001690511goos:AssetRetirementObligationsMember2021-03-292022-04-030001690511ifrs-full:MiscellaneousOtherProvisionsMember2021-03-292022-04-030001690511ifrs-full:WarrantyProvisionMember2022-04-030001690511ifrs-full:RefundsProvisionMember2022-04-030001690511goos:AssetRetirementObligationsMember2022-04-030001690511ifrs-full:MiscellaneousOtherProvisionsMember2022-04-030001690511goos:TheRevolvingFacilityMember2020-02-240001690511goos:TheRevolvingFacilityMember2021-03-280001690511goos:TheRevolvingFacilityMember2022-04-030001690511goos:OtherNoncurrentLiabilities1Membergoos:TheRevolvingFacilityMembergoos:DeferredFinancingCostsMember2022-04-030001690511goos:OtherNoncurrentLiabilities1Membergoos:TheRevolvingFacilityMembergoos:DeferredFinancingCostsMember2021-03-280001690511goos:TheRevolvingFacilityMember2020-05-260001690511goos:OtherNoncurrentLiabilities1Membergoos:TheRevolvingFacilityMembergoos:DeferredFinancingCostsMember2021-05-250001690511goos:TheRevolvingFacilityMembergoos:LettersOfCreditOutstandingMember2022-04-030001690511goos:TheRevolvingFacilityMembergoos:LettersOfCreditOutstandingMember2021-03-280001690511goos:TermLoanMember2020-10-07iso4217:USD0001690511goos:TermLoanMember2020-10-060001690511goos:TermLoanRepricingAmendmentMembergoos:LondonInterbankOfferedRateLIBORMember2021-04-090001690511goos:LondonInterbankOfferedRateLIBORMembergoos:TermLoanMember2021-04-080001690511goos:TermLoanRepricingAmendmentMember2021-03-292022-04-030001690511ifrs-full:BottomOfRangeMembergoos:LondonInterbankOfferedRateLIBORMembergoos:TermLoanMember2020-10-070001690511goos:TermLoanMember2021-03-280001690511goos:MainlandChinaFacilitiesMember2022-04-03goos:facilityiso4217:CNY0001690511goos:MainlandChinaFacilitiesMembergoos:TermOneMember2021-03-292022-04-030001690511goos:MainlandChinaFacilitiesMembergoos:TermTwoMember2021-03-292022-04-030001690511goos:TermThreeMembergoos:MainlandChinaFacilitiesMember2021-03-292022-04-030001690511goos:MainlandChinaFacilitiesMembersrt:MaximumMember2021-03-292022-04-030001690511goos:MainlandChinaFacilitiesMember2021-03-292022-04-030001690511goos:MainlandChinaFacilitiesMembergoos:LoanPrimeRateMember2022-04-030001690511goos:MainlandChinaFacilitiesMember2021-03-280001690511goos:MainlandChinaFacilitiesMember2020-03-302021-03-280001690511goos:MainlandChinaFacilitiesMember2019-04-012020-03-290001690511goos:RevolvingFacilityMember2021-03-292022-04-030001690511goos:RevolvingFacilityMember2020-03-302021-03-280001690511goos:RevolvingFacilityMember2019-04-012020-03-290001690511goos:TermLoanMember2021-03-292022-04-030001690511goos:TermLoanMember2020-03-302021-03-280001690511goos:TermLoanMember2019-04-012020-03-290001690511ifrs-full:LeaseLiabilitiesMember2021-03-292022-04-030001690511ifrs-full:LeaseLiabilitiesMember2020-03-302021-03-280001690511ifrs-full:LeaseLiabilitiesMember2019-04-012020-03-290001690511goos:MultipleVotingSharesMember2021-03-292022-04-03goos:vote0001690511goos:SubordinateVotingSharesMember2021-03-292022-04-030001690511ifrs-full:RetainedEarningsMembergoos:SubordinateVotingSharesMember2021-03-292022-04-030001690511goos:MultipleVotingSharesMember2021-03-280001690511goos:SubordinateVotingSharesMember2021-03-280001690511goos:MultipleVotingSharesMemberifrs-full:IssuedCapitalMember2021-03-292022-04-030001690511goos:MultipleVotingSharesMember2020-03-290001690511goos:SubordinateVotingSharesMember2020-03-290001690511goos:MultipleVotingSharesMember2020-03-302021-03-280001690511goos:MultipleVotingSharesMemberifrs-full:IssuedCapitalMember2020-03-302021-03-280001690511goos:SubordinateVotingSharesMember2020-03-302021-03-280001690511goos:SubordinateVotingSharesMember2019-04-012020-03-290001690511ifrs-full:RetainedEarningsMembergoos:SubordinateVotingSharesMember2019-04-012020-03-290001690511goos:MultipleVotingSharesMember2019-03-310001690511goos:SubordinateVotingSharesMember2019-03-310001690511goos:MultipleVotingSharesMember2019-04-012020-03-290001690511goos:MultipleVotingSharesMemberifrs-full:IssuedCapitalMember2019-04-012020-03-290001690511goos:LegacyPlanMember2021-03-292022-04-030001690511goos:ShareOptionsGrantedTrancheOneMembergoos:LegacyPlanMember2021-03-292022-04-030001690511goos:LegacyPlanMembergoos:ShareOptionsGrantedTrancheTwoMember2021-03-292022-04-030001690511goos:ShareOptionsGrantedTrancheThreeMembergoos:LegacyPlanMember2021-03-292022-04-030001690511goos:ShareOptionsGrantedTrancheFourMembergoos:LegacyPlanMember2021-03-292022-04-030001690511goos:OmnibusPlanMember2021-03-292022-04-030001690511goos:ExercisePriceOneMember2022-04-030001690511goos:ExercisePriceOneMember2021-03-292022-04-030001690511goos:ExercisePriceTwoMember2022-04-030001690511goos:ExercisePriceTwoMember2021-03-292022-04-030001690511goos:ExercisePriceThreeMember2022-04-030001690511goos:ExercisePriceThreeMember2021-03-292022-04-030001690511goos:ExercisePriceFourMember2022-04-030001690511goos:ExercisePriceFourMember2021-03-292022-04-030001690511goos:ExercisePriceFiveMember2022-04-030001690511goos:ExercisePriceFiveMember2021-03-292022-04-030001690511goos:ExercisePriceSixMember2022-04-030001690511goos:ExercisePriceSixMember2021-03-292022-04-030001690511goos:ExercisePriceSevenMember2022-04-030001690511goos:ExercisePriceSevenMember2021-03-292022-04-030001690511goos:ExercisePriceEightMember2022-04-030001690511goos:ExercisePriceEightMember2021-03-292022-04-030001690511goos:ExercisePriceNineMember2022-04-030001690511goos:ExercisePriceNineMember2021-03-292022-04-030001690511goos:ExercisePriceTenMember2022-04-030001690511goos:ExercisePriceTenMember2021-03-292022-04-030001690511goos:ExercisePriceElevenMember2022-04-030001690511goos:ExercisePriceElevenMember2021-03-292022-04-030001690511goos:ExercisePriceTwelveMember2022-04-030001690511goos:ExercisePriceTwelveMember2021-03-292022-04-030001690511goos:ExercisePriceThirteenMember2022-04-030001690511goos:ExercisePriceThirteenMember2021-03-292022-04-030001690511goos:ExercisePriceFourteenMember2022-04-030001690511goos:ExercisePriceFourteenMember2021-03-292022-04-030001690511goos:ExercisePriceFifteenMember2022-04-030001690511goos:ExercisePriceFifteenMember2021-03-292022-04-030001690511goos:ExercisePriceSixteenMember2022-04-030001690511goos:ExercisePriceSixteenMember2021-03-292022-04-030001690511goos:OmnibusPlanMembergoos:SubordinateVotingSharesMember2021-03-292022-04-030001690511goos:OmnibusPlanMember2021-03-280001690511goos:OmnibusPlanMember2020-03-290001690511goos:OmnibusPlanMember2020-03-302021-03-280001690511goos:OmnibusPlanMember2022-04-030001690511goos:OmnibusPlanMembergoos:SubordinateVotingSharesMember2022-04-030001690511goos:BaffinInc.Member2022-04-030001690511goos:BaffinInc.Member2021-03-280001690511goos:BaffinInc.Member2021-03-292022-04-030001690511goos:BaffinInc.Member2020-03-302021-03-280001690511goos:BaffinInc.Member2019-04-012020-03-290001690511goos:DerivativesCurrentMemberifrs-full:Level1OfFairValueHierarchyMember2022-04-030001690511goos:DerivativesCurrentMemberifrs-full:Level2OfFairValueHierarchyMember2022-04-030001690511ifrs-full:Level3OfFairValueHierarchyMembergoos:DerivativesCurrentMember2022-04-030001690511ifrs-full:GrossCarryingAmountMembergoos:DerivativesCurrentMember2022-04-030001690511ifrs-full:AtFairValueMembergoos:DerivativesCurrentMember2022-04-030001690511goos:DerivativesCurrentMemberifrs-full:Level1OfFairValueHierarchyMember2021-03-280001690511goos:DerivativesCurrentMemberifrs-full:Level2OfFairValueHierarchyMember2021-03-280001690511ifrs-full:Level3OfFairValueHierarchyMembergoos:DerivativesCurrentMember2021-03-280001690511ifrs-full:GrossCarryingAmountMembergoos:DerivativesCurrentMember2021-03-280001690511ifrs-full:AtFairValueMembergoos:DerivativesCurrentMember2021-03-280001690511goos:DerivativesNoncurrentMemberifrs-full:Level1OfFairValueHierarchyMember2022-04-030001690511goos:DerivativesNoncurrentMemberifrs-full:Level2OfFairValueHierarchyMember2022-04-030001690511ifrs-full:Level3OfFairValueHierarchyMembergoos:DerivativesNoncurrentMember2022-04-030001690511ifrs-full:GrossCarryingAmountMembergoos:DerivativesNoncurrentMember2022-04-030001690511ifrs-full:AtFairValueMembergoos:DerivativesNoncurrentMember2022-04-030001690511goos:DerivativesNoncurrentMemberifrs-full:Level1OfFairValueHierarchyMember2021-03-280001690511goos:DerivativesNoncurrentMemberifrs-full:Level2OfFairValueHierarchyMember2021-03-280001690511ifrs-full:Level3OfFairValueHierarchyMembergoos:DerivativesNoncurrentMember2021-03-280001690511ifrs-full:GrossCarryingAmountMembergoos:DerivativesNoncurrentMember2021-03-280001690511ifrs-full:AtFairValueMembergoos:DerivativesNoncurrentMember2021-03-280001690511goos:DerivativesCurrentMemberifrs-full:Level1OfFairValueHierarchyMember2022-04-030001690511goos:DerivativesCurrentMemberifrs-full:Level2OfFairValueHierarchyMember2022-04-030001690511ifrs-full:Level3OfFairValueHierarchyMembergoos:DerivativesCurrentMember2022-04-030001690511ifrs-full:GrossCarryingAmountMembergoos:DerivativesCurrentMember2022-04-030001690511ifrs-full:AtFairValueMembergoos:DerivativesCurrentMember2022-04-030001690511goos:DerivativesCurrentMemberifrs-full:Level1OfFairValueHierarchyMember2021-03-280001690511goos:DerivativesCurrentMemberifrs-full:Level2OfFairValueHierarchyMember2021-03-280001690511ifrs-full:Level3OfFairValueHierarchyMembergoos:DerivativesCurrentMember2021-03-280001690511ifrs-full:GrossCarryingAmountMembergoos:DerivativesCurrentMember2021-03-280001690511ifrs-full:AtFairValueMembergoos:DerivativesCurrentMember2021-03-280001690511goos:DerivativesNoncurrentMemberifrs-full:Level1OfFairValueHierarchyMember2022-04-030001690511goos:DerivativesNoncurrentMemberifrs-full:Level2OfFairValueHierarchyMember2022-04-030001690511goos:DerivativesNoncurrentMemberifrs-full:Level3OfFairValueHierarchyMember2022-04-030001690511goos:DerivativesNoncurrentMemberifrs-full:GrossCarryingAmountMember2022-04-030001690511goos:DerivativesNoncurrentMemberifrs-full:AtFairValueMember2022-04-030001690511goos:DerivativesNoncurrentMemberifrs-full:Level1OfFairValueHierarchyMember2021-03-280001690511goos:DerivativesNoncurrentMemberifrs-full:Level2OfFairValueHierarchyMember2021-03-280001690511goos:DerivativesNoncurrentMemberifrs-full:Level3OfFairValueHierarchyMember2021-03-280001690511goos:DerivativesNoncurrentMemberifrs-full:GrossCarryingAmountMember2021-03-280001690511goos:DerivativesNoncurrentMemberifrs-full:AtFairValueMember2021-03-280001690511goos:TermLoanMemberifrs-full:Level1OfFairValueHierarchyMember2022-04-030001690511goos:TermLoanMemberifrs-full:Level2OfFairValueHierarchyMember2022-04-030001690511ifrs-full:Level3OfFairValueHierarchyMembergoos:TermLoanMember2022-04-030001690511goos:TermLoanMemberifrs-full:GrossCarryingAmountMember2022-04-030001690511ifrs-full:AtFairValueMembergoos:TermLoanMember2022-04-030001690511goos:TermLoanMemberifrs-full:Level1OfFairValueHierarchyMember2021-03-280001690511goos:TermLoanMemberifrs-full:Level2OfFairValueHierarchyMember2021-03-280001690511ifrs-full:Level3OfFairValueHierarchyMembergoos:TermLoanMember2021-03-280001690511goos:TermLoanMemberifrs-full:GrossCarryingAmountMember2021-03-280001690511ifrs-full:AtFairValueMembergoos:TermLoanMember2021-03-280001690511ifrs-full:NotLaterThanOneYearMember2022-04-030001690511ifrs-full:LaterThanOneYearAndNotLaterThanTwoYearsMember2022-04-030001690511ifrs-full:LaterThanTwoYearsAndNotLaterThanThreeYearsMember2022-04-030001690511ifrs-full:LaterThanThreeYearsAndNotLaterThanFourYearsMember2022-04-030001690511ifrs-full:LaterThanFourYearsAndNotLaterThanFiveYearsMember2022-04-030001690511ifrs-full:LaterThanFiveYearsMember2022-04-030001690511goos:TermLoanMemberifrs-full:NotLaterThanOneYearMember2022-04-030001690511ifrs-full:LaterThanOneYearAndNotLaterThanTwoYearsMembergoos:TermLoanMember2022-04-030001690511ifrs-full:LaterThanTwoYearsAndNotLaterThanThreeYearsMembergoos:TermLoanMember2022-04-030001690511ifrs-full:LaterThanThreeYearsAndNotLaterThanFourYearsMembergoos:TermLoanMember2022-04-030001690511ifrs-full:LaterThanFourYearsAndNotLaterThanFiveYearsMembergoos:TermLoanMember2022-04-030001690511ifrs-full:LaterThanFiveYearsMembergoos:TermLoanMember2022-04-030001690511goos:InterestCommitmentsRelatingToLongTermDebtMemberifrs-full:NotLaterThanOneYearMember2022-04-030001690511goos:InterestCommitmentsRelatingToLongTermDebtMemberifrs-full:LaterThanOneYearAndNotLaterThanTwoYearsMember2022-04-030001690511goos:InterestCommitmentsRelatingToLongTermDebtMemberifrs-full:LaterThanTwoYearsAndNotLaterThanThreeYearsMember2022-04-030001690511goos:InterestCommitmentsRelatingToLongTermDebtMemberifrs-full:LaterThanThreeYearsAndNotLaterThanFourYearsMember2022-04-030001690511ifrs-full:LaterThanFourYearsAndNotLaterThanFiveYearsMembergoos:InterestCommitmentsRelatingToLongTermDebtMember2022-04-030001690511ifrs-full:LaterThanFiveYearsMembergoos:InterestCommitmentsRelatingToLongTermDebtMember2022-04-030001690511goos:InterestCommitmentsRelatingToLongTermDebtMember2022-04-030001690511ifrs-full:ShorttermBorrowingsMember2020-04-140001690511ifrs-full:ShorttermBorrowingsMember2020-04-142020-04-140001690511ifrs-full:ShorttermBorrowingsMember2022-04-030001690511ifrs-full:ShorttermBorrowingsMembergoos:MainlandChinaFacilitiesMember2022-04-030001690511goos:ThirdPartyMemberifrs-full:TopOfRangeMemberifrs-full:CreditRiskMember2022-04-030001690511ifrs-full:BottomOfRangeMembergoos:ThirdPartyMemberifrs-full:CreditRiskMember2022-04-030001690511goos:ThirdPartyMemberifrs-full:CreditRiskMember2022-04-030001690511goos:ThirdPartyMemberifrs-full:CreditRiskMember2021-03-280001690511ifrs-full:GrossCarryingAmountMemberifrs-full:CreditRiskMember2022-04-030001690511ifrs-full:GrossCarryingAmountMemberifrs-full:CurrentMemberifrs-full:CreditRiskMember2022-04-030001690511ifrs-full:GrossCarryingAmountMembergoos:NotLaterThanThirtyDaysMemberifrs-full:CreditRiskMember2022-04-030001690511goos:LaterThanThirtyDaysAndNotLaterThanSixtyDaysMemberifrs-full:GrossCarryingAmountMemberifrs-full:CreditRiskMember2022-04-030001690511ifrs-full:GrossCarryingAmountMembergoos:LaterThanSixtyDaysMemberifrs-full:CreditRiskMember2022-04-030001690511ifrs-full:GrossCarryingAmountMemberifrs-full:CreditRiskMember2021-03-280001690511ifrs-full:GrossCarryingAmountMemberifrs-full:CurrentMemberifrs-full:CreditRiskMember2021-03-280001690511ifrs-full:GrossCarryingAmountMembergoos:NotLaterThanThirtyDaysMemberifrs-full:CreditRiskMember2021-03-280001690511goos:LaterThanThirtyDaysAndNotLaterThanSixtyDaysMemberifrs-full:GrossCarryingAmountMemberifrs-full:CreditRiskMember2021-03-280001690511ifrs-full:GrossCarryingAmountMembergoos:LaterThanSixtyDaysMemberifrs-full:CreditRiskMember2021-03-2800016905112019-12-23iso4217:EUR00016905112019-12-232019-12-230001690511goos:OperatingHedgeProgramMemberifrs-full:CashFlowHedgesMemberifrs-full:CurrencyRiskMember2021-03-292022-04-030001690511goos:OperatingHedgeProgramMemberifrs-full:CashFlowHedgesMemberifrs-full:CurrencyRiskMember2020-03-302021-03-280001690511goos:OperatingHedgeProgramMemberifrs-full:CashFlowHedgesMemberifrs-full:CurrencyRiskMember2019-04-012020-03-290001690511ifrs-full:CurrencyRiskMember2021-03-292022-04-030001690511ifrs-full:CurrencyRiskMember2020-03-302021-03-280001690511ifrs-full:CurrencyRiskMember2019-04-012020-03-290001690511goos:CurrencyPurchaseRiskCanadianDollarsMember2022-04-030001690511goos:CurrencySellRiskCanadianDollarsMember2022-04-030001690511goos:CurrencyPurchaseRiskEurosMember2022-04-03iso4217:GBPiso4217:CHF0001690511goos:CurrencySellRiskEurosMember2022-04-030001690511ifrs-full:ForwardContractMemberifrs-full:FairValueHedgesMembergoos:ForeignCurrencyRiskMember2020-10-300001690511goos:CrossCurrencySwapMemberifrs-full:CashFlowHedgesMemberifrs-full:CurrencyRiskMember2021-03-292022-04-030001690511goos:CrossCurrencySwapMemberifrs-full:CashFlowHedgesMemberifrs-full:CurrencyRiskMember2020-03-302021-03-280001690511goos:CrossCurrencySwapMemberifrs-full:CashFlowHedgesMemberifrs-full:CurrencyRiskMember2019-04-012020-03-290001690511ifrs-full:HedgesOfNetInvestmentInForeignOperationsMembergoos:CrossCurrencySwapMemberifrs-full:CurrencyRiskMember2021-03-292022-04-030001690511ifrs-full:HedgesOfNetInvestmentInForeignOperationsMembergoos:CrossCurrencySwapMemberifrs-full:CurrencyRiskMember2020-03-302021-03-280001690511ifrs-full:HedgesOfNetInvestmentInForeignOperationsMembergoos:CrossCurrencySwapMemberifrs-full:CurrencyRiskMember2019-04-012020-03-290001690511ifrs-full:CashFlowHedgesMemberifrs-full:CurrencyRiskMembergoos:LongDatedForwardExchangeContractMember2021-03-292022-04-030001690511ifrs-full:CashFlowHedgesMemberifrs-full:CurrencyRiskMembergoos:LongDatedForwardExchangeContractMember2020-03-302021-03-280001690511ifrs-full:CashFlowHedgesMemberifrs-full:CurrencyRiskMembergoos:LongDatedForwardExchangeContractMember2019-04-012020-03-290001690511ifrs-full:InterestRateRiskMemberifrs-full:ShorttermBorrowingsMember2022-04-030001690511ifrs-full:InterestRateRiskMemberifrs-full:ShorttermBorrowingsMember2021-03-292022-04-030001690511ifrs-full:InterestRateRiskMemberifrs-full:ShorttermBorrowingsMember2020-03-302021-03-280001690511ifrs-full:InterestRateRiskMembergoos:TermLoanMember2022-04-030001690511ifrs-full:InterestRateRiskMembergoos:TermLoanMember2021-03-292022-04-030001690511ifrs-full:InterestRateRiskMembergoos:TermLoanMember2020-03-302021-03-280001690511ifrs-full:InterestRateRiskMemberifrs-full:InterestRateSwapContractMembergoos:TermLoanMember2020-10-300001690511ifrs-full:InterestRateRiskMembergoos:LondonInterbankOfferedRateLIBORMemberifrs-full:InterestRateSwapContractMembergoos:TermLoanMember2020-10-300001690511ifrs-full:InterestRateRiskMembergoos:TermLoanRepricingAmendmentMemberifrs-full:FixedInterestRateMemberifrs-full:InterestRateSwapContractMember2021-04-090001690511ifrs-full:MajorBusinessCombinationMembergoos:CanadaGooseJapanMember2022-04-040001690511ifrs-full:MajorBusinessCombinationMembergoos:CanadaGooseJapanMember2022-04-042022-04-040001690511goos:SazabyLeagueLtdMemberifrs-full:MajorBusinessCombinationMembergoos:CanadaGooseJapanMember2022-04-042022-04-040001690511goos:CanadaGooseJapanMember2021-03-292022-04-030001690511ifrs-full:ParentMember2021-03-292022-04-030001690511ifrs-full:ParentMember2020-03-302021-03-280001690511ifrs-full:ParentMember2019-04-012020-03-290001690511ifrs-full:ParentMember2022-04-030001690511ifrs-full:ParentMember2021-03-280001690511ifrs-full:ParentMember2020-03-290001690511ifrs-full:IssuedCapitalMemberifrs-full:ParentMember2019-03-310001690511ifrs-full:AdditionalPaidinCapitalMemberifrs-full:ParentMember2019-03-310001690511ifrs-full:RetainedEarningsMemberifrs-full:ParentMember2019-03-310001690511ifrs-full:ParentMember2019-03-310001690511ifrs-full:RetainedEarningsMemberifrs-full:IncreaseDecreaseDueToChangesInAccountingPolicyRequiredByIFRSsCumulativeEffectAtDateOfInitialApplicationMemberifrs-full:ParentMember2019-03-310001690511ifrs-full:IncreaseDecreaseDueToChangesInAccountingPolicyRequiredByIFRSsCumulativeEffectAtDateOfInitialApplicationMemberifrs-full:ParentMember2019-03-310001690511ifrs-full:OpeningBalanceAfterAdjustmentCumulativeEffectAtDateOfInitialApplicationMemberifrs-full:IssuedCapitalMemberifrs-full:ParentMember2019-03-310001690511ifrs-full:OpeningBalanceAfterAdjustmentCumulativeEffectAtDateOfInitialApplicationMemberifrs-full:AdditionalPaidinCapitalMemberifrs-full:ParentMember2019-03-310001690511ifrs-full:RetainedEarningsMemberifrs-full:OpeningBalanceAfterAdjustmentCumulativeEffectAtDateOfInitialApplicationMemberifrs-full:ParentMember2019-03-310001690511ifrs-full:OpeningBalanceAfterAdjustmentCumulativeEffectAtDateOfInitialApplicationMemberifrs-full:ParentMember2019-03-310001690511ifrs-full:RetainedEarningsMembergoos:IFRS16Memberifrs-full:ParentMember2020-03-290001690511goos:IFRS16Memberifrs-full:ParentMember2020-03-290001690511ifrs-full:IssuedCapitalMemberifrs-full:ParentMember2019-04-012020-03-290001690511ifrs-full:RetainedEarningsMemberifrs-full:ParentMember2019-04-012020-03-290001690511ifrs-full:AdditionalPaidinCapitalMemberifrs-full:ParentMember2019-04-012020-03-290001690511ifrs-full:IssuedCapitalMemberifrs-full:ParentMember2020-03-290001690511ifrs-full:AdditionalPaidinCapitalMemberifrs-full:ParentMember2020-03-290001690511ifrs-full:RetainedEarningsMemberifrs-full:ParentMember2020-03-290001690511ifrs-full:IssuedCapitalMemberifrs-full:ParentMember2020-03-302021-03-280001690511ifrs-full:AdditionalPaidinCapitalMemberifrs-full:ParentMember2020-03-302021-03-280001690511ifrs-full:RetainedEarningsMemberifrs-full:ParentMember2020-03-302021-03-280001690511ifrs-full:IssuedCapitalMemberifrs-full:ParentMember2021-03-280001690511ifrs-full:AdditionalPaidinCapitalMemberifrs-full:ParentMember2021-03-280001690511ifrs-full:RetainedEarningsMemberifrs-full:ParentMember2021-03-280001690511ifrs-full:IssuedCapitalMemberifrs-full:ParentMember2021-03-292022-04-030001690511ifrs-full:AdditionalPaidinCapitalMemberifrs-full:ParentMember2021-03-292022-04-030001690511ifrs-full:RetainedEarningsMemberifrs-full:ParentMember2021-03-292022-04-030001690511ifrs-full:IssuedCapitalMemberifrs-full:ParentMember2022-04-030001690511ifrs-full:AdditionalPaidinCapitalMemberifrs-full:ParentMember2022-04-030001690511ifrs-full:RetainedEarningsMemberifrs-full:ParentMember2022-04-03

☐			REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934

☒			ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

☐			TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

☐			SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Title of each class			Trading Symbol(s)			Name of each exchange on which  registered
Subordinate voting shares			GOOS			New York Stock Exchange

Title of each class						Name of each exchange on which registered
Subordinate voting shares						New York Stock Exchange

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. ☒ Yes ☐ No

If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. ☐ Yes ☒ No

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. ☒ Yes ☐ No

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). ☒ Yes ☐ No

Large Accelerated Filer ☒ Accelerated Filer ☐ Non-Accelerated Filer ☐ Emerging growth company ☐

U.S. GAAP  ☐			International Financial Reporting Standards as issued by the International Accounting Standards Board ☒			Other  ☐

If “Other” has been checked in response to the previous question, indicate by check mark which financial statement item the registrant has elected to follow. ☐ Item 17 ☐ Item 18

If this is an Annual Report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). ☐ Yes ☒ No

Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court. ☐ Yes ☐ No

INTRODUCTION						5
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS						6
PART I						8
			ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS			8
			ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE			8
			ITEM 3. KEY INFORMATION			8
			ITEM 4. INFORMATION ON THE COMPANY			32
			ITEM 4A. UNRESOLVED STAFF COMMENTS			36
			ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS			36
			ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES			86
			ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS			104
			ITEM 8. FINANCIAL INFORMATION			109
			ITEM 9. THE OFFER AND LISTING			109
			ITEM 10. ADDITIONAL INFORMATION			109
			ITEM 11. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK			125
			ITEM 12. DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES			125
PART II						126
			ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES			126
			ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS			126
			ITEM 15. CONTROLS AND PROCEDURES			126
			ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT			126
			ITEM 16B. CODE OF ETHICS			126
			ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES			126
			ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES			127
			ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS			127
			ITEM 16F. CHANGE IN REGISTRANT’S CERTIFYING ACCOUNTANT			127
			ITEM 16G. CORPORATE GOVERNANCE			128
			ITEM 16H. MINE SAFETY DISCLOSURE			128
			ITEM 16I. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS			129
PART III						130
			ITEM 17. FINANCIAL STATEMENTS			130
			ITEM 18. FINANCIAL STATEMENTS			130
			ITEM 19. EXHIBITS			131
			EXHIBIT INDEX			131
SIGNATURES						133
FINANCIAL STATEMENTS						F-1

INTRODUCTION

Unless otherwise indicated, all references in this Annual Report on Form 20-F to “Canada Goose,” “we,” “our,” “us,” “the company” or similar terms refer to Canada Goose Holdings Inc. and its consolidated subsidiaries. We publish our consolidated financial statements in Canadian dollars. In this Annual Report, unless otherwise specified, all monetary amounts are in Canadian dollars, all references to “$,” “C$,” “CDN$,” “CAD$,” and “dollars” mean Canadian dollars and all references to “US$” and “USD” mean U.S. dollars.

This Annual Report on Form 20-F contains our audited consolidated financial statements and related notes for the years ended April 3, 2022, March 28, 2021 and March 29, 2020 (“Annual Financial Statements”). Our Annual Financial Statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”), as issued by the International Accounting Standards Board (“IASB”).

Unless otherwise indicated in this Annual Report, all references to: "fiscal 2020" are to the 52-week period ended March 29, 2020; "fiscal 2021" are to the 52-week period ended March 28, 2021; and "fiscal 2022" are to the 53-week period ended April 3, 2022.

As described herein, certain comparative figures have been reclassified to conform with the fiscal 2022 presentation.

Trademarks and Service Marks

This Annual Report contains references to a number of trademarks which are our registered trademarks or trademarks for which we have pending applications or common law rights. Our major trademarks include the CANADA GOOSE word mark and the ARCTIC PROGRAM & DESIGN trademark (our disc logo consisting of the colour-inverse design of the North Pole and Arctic Ocean) as well as the BAFFIN word mark and BAFFIN Half Maple Leaf design trademark.

Solely for convenience, the trademarks, service marks and trade names referred to in this Annual Report are listed without the ®, (sm) and (TM) symbols, but we will assert, to the fullest extent under applicable law, our rights or the rights of the applicable licensors to these trademarks, service marks and trade names.

CAUTIONARY NOTE REGARDING FORWARD‑LOOKING STATEMENTS

This Annual Report contains forward-looking statements. These statements are neither historical facts nor assurances of future performance. Instead, they are based on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, and other future conditions. Forward-looking statements can be identified by words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “predict,” “project,” “target,” “potential,” “will,” “would,” “could,” “should,” “continue,” and other similar expressions, although not all forward-looking statements contain these identifying words. These forward-looking statements include all matters that are not historical facts. They appear in many places throughout this Annual Report and include statements regarding our intentions, beliefs or current expectations concerning, among other things, our results of operations, financial condition, liquidity, business prospects, growth, strategies, expectations regarding industry trends and the size and growth rates of addressable markets, our business plan and growth strategies, including plans for expansion to new markets and new products, expectations for seasonal trends, and the industry in which we operate.

Certain assumptions made in preparing the forward-looking statements contained in this Annual Report include:

•our ability to continue operating our business amid the societal, political and economic disruption caused by the novel coronavirus pandemic (“COVID-19”) and recent and ongoing geopolitical events;

•our ability to implement our growth strategies;

•our ability to maintain strong business relationships with our customers, suppliers, wholesalers and distributors;

•our ability to keep pace with changing consumer preferences;

•our ability to protect our intellectual property; and

•the absence of material adverse changes in our industry or the global economy.

By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. We believe that these risks and uncertainties include, but are not limited to, those described in the “Risk Factors” section of this Annual Report and other risk factors described herein which include, but are not limited to, the following risks:

•risks and global disruptions associated with the ongoing COVID-19 pandemic and geopolitical events, which may further affect general economic and operating conditions;

•additional potential closures or retail traffic disruptions impacting our retail stores and the retail stores of our wholesale partners as a result of COVID-19;

•we may not open retail stores or expand e-Commerce access on our planned timelines;

•we may be unable to maintain the strength of our brand or to expand our brand to new products and geographies;

•unanticipated changes in the effective tax rate or adverse outcomes from audit examinations of corporate income or other tax returns;

•our indebtedness may adversely affect our financial condition;

•an economic downturn and general economic conditions (for example, inflation and rising interest rates) may further affect discretionary consumer spending;

•we may not be able to satisfy changing consumer preferences;

•global political events, including the impact of political disruptions and protests, which may cause business interruptions;

•our ability to procure high quality raw materials and certain finished goods globally;

•our ability to forecast our inventory needs and to manage our product distribution networks;

•we may not be able to protect or preserve our brand image and proprietary rights;

•the success of our business strategy;

•our ability to manage our exposure to data security and cyber security events;

•fluctuations in raw material costs, interest rates and currency exchange rates; and

•we may be unable to maintain effective internal controls over financial reporting.

Although we base the forward-looking statements contained in this Annual Report on assumptions that we believe are reasonable, we caution you that actual results and developments (including our results of operations, financial condition and liquidity, and the development of the industry in which we operate) may differ materially from those made in or suggested by the forward-looking statements contained in this Annual Report. Additional impacts may arise that we are not aware of currently. The potential of such additional impacts intensifies the business and operating risks that we face, and should be considered when reading the forward-looking statements contained in this Annual Report. In addition, even if results and developments are consistent with the forward-looking statements contained in this Annual Report, those results and developments may not be indicative of results or developments in subsequent periods. As a result, any or all of our forward-looking statements in this Annual Report may prove to be inaccurate. We have included important factors in the cautionary statements included in this Annual Report on Form 20-F, particularly in Section 3.D of this Annual Report on Form 20-F titled “Risk Factors”, that we believe could cause actual results or events to differ materially from the forward-looking statements that we make. No forward-looking statement is a guarantee of future results. Moreover, we operate in a highly competitive and rapidly changing environment in which new risks often emerge. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make.

You should read this Annual Report and the documents that we reference herein and have filed as exhibits hereto completely and with the understanding that our actual future results may be materially different from what we expect. The forward-looking statements contained herein are made as of the date of this Annual Report, and we do not assume any obligation to update any forward-looking statements except as required by applicable laws.

ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS

ITEM 3. KEY INFORMATION

B.    Capitalization and Indebtedness

C.    Reasons for the Offer and Use of Proceeds

D.    Risk Factors

Our business has been and may continue to be adversely affected by the global coronavirus outbreak.

Our global operations, and those of the third parties upon whom we rely, have experienced and may continue to experience disruptions from the outbreak of COVID-19. To date, they have included mandatory and elective shut-downs of retail and manufacturing operations, a decrease in domestic and international retail traffic, and a decrease in the capacity of our network, including in our facilities, due to distancing measures required, reductions in operating hours and limited occupancy levels. The countries in which our products are manufactured, distributed or sold are in varying stages of restrictions and reopening in response to COVID-19. Certain jurisdictions have begun reopening following precautionary measures while other jurisdictions have returned to further restrictions and closures in the face of a rising number of COVID-19 cases. There is significant uncertainty and we anticipate that we will continue to have material adverse impacts on our business, financial condition and results of operations as a result of the global COVID-19 pandemic.

These and other potential impacts make it more challenging for management to estimate the future performance of our business. While we cannot predict the specific impacts to our business, financial condition and results of operations, we do expect such impacts to continue to be significantly negative. These impacts will depend on future developments, which are highly uncertain and out of our control, including, among others, the duration and intensity of the COVID-19 pandemic, the introduction of new variants and mutations, the continued efficacy of vaccination programs, the subsequent resumption of all business operations and the full recovery of retail traffic globally.

Additional impacts may arise that we are not aware of currently. The potential of such additional impacts intensifies the business and operating risks that we face, and should be considered when reading the additional risk factors below.

A downturn in the global economy, including as a result of recent geopolitical events, general economic conditions such as inflation, and the COVID-19 outbreak worldwide, will likely affect or has substantially affected and will likely continue to affect, consumer purchases of discretionary items, which could materially harm our sales, profitability and financial condition.

Our sales are significantly affected by changes in discretionary spending by consumers. Many factors outside our control influence and affect the level of consumer spending for discretionary items. These factors include actual and perceived economic conditions, interest and tax rates, inflation, energy prices, the availability of consumer credit, disposable consumer income, unemployment and consumer confidence in future economic conditions. Consumer purchases of discretionary items, such as our outerwear, tend to decline during recessionary periods when

disposable income is lower. During our history, we have experienced recessionary periods, but we cannot predict the effect of future recessionary periods on our sales and profitability. A downturn in the economy in markets in which we sell our products or unfavourable changes related to interest rates, rates of economic growth, fiscal and monetary policies of governments, inflation, deflation, tax rates and policy, unemployment trends, energy prices, and other matters that influence the availability and cost of merchandise, consumer confidence or spending may materially harm our sales, profitability and financial condition.

Recent geopolitical events and general economic conditions, such as rising inflation, has led to a slow-down in certain segments of the global economy and affected the amount of discretionary income available for certain consumers to purchase our products. If global economic and financial market conditions persist, our sales could decrease, and our financial condition and results of operations could be adversely affected. Unstable political conditions, civil unrest, armed conflicts or events of extreme violence, including the ongoing conflict and any escalation thereof between Russia and Ukraine, may disrupt commerce globally and could negatively affect our business and results of operations.

Our growth strategy continues to involve expansion of our Direct-to-Consumer (“DTC”) channel, including retail stores and e-Commerce, which may present risks and challenges.

Our business has continued to evolve from one in which we only distributed products on a wholesale basis for resale by others to a multi-channel distribution model. As of April 3, 2022, our DTC channel includes 56 national e-Commerce markets and 41 directly operated permanent retail stores across North America, Europe, and Asia Pacific. While store operations have largely resumed over fiscal 2022 across our global store network, retail store traffic remains below pre-pandemic levels as at April 3, 2022. Furthermore, some jurisdictions in which we operate are facing a rising number of COVID-19 cases, which has led or may lead to further closures and reduced operating hours. As of April 3, 2022, 5 of our 41 directly operated permanent retail stores globally were temporarily closed. Our global DTC expansion has been the largest driver of operational and financial growth historically. We expect this to continue in the future.

Growing our e-Commerce platforms and number of retail stores is essential to our future strategy. This strategy has and will continue to require significant investment in cross-functional operations and management focus, along with investment in supporting technologies and retail store spaces. If we are unable to provide a user-friendly, convenient and consistent experience for our customers, our ability to compete and our results of operations could be adversely affected. In addition, if our e-Commerce platforms or retail store formats do not appeal to our customers, reliably function as designed, or maintain the privacy of customer data, or if we are unable to consistently meet our brand promise to our customers, we may experience a loss of customer confidence or lost sales, or be exposed to fraudulent purchases, which could adversely affect our reputation and results of operations.

To the extent our e-Commerce business grows, we will need an increasing amount of IT infrastructure to continue to satisfy consumer demand and expectations. If we fail to effectively scale and adapt our e-Commerce platform to accommodate increased consumer demand, our business may be subject to interruptions, delays or failures and consumer demand for our products and digital experiences could decline. Our failure to successfully respond to these risks might adversely affect sales and order flow in our e-Commerce business, as well as adversely impact our reputation and brand.

Furthermore, with our increasing retail footprint, lower profitability levels at new or existing retail stores will adversely affect our margins.

We are also subject to different and evolving local laws and regulatory requirements in the various jurisdictions in which we operate. In particular, we are subject to different and evolving laws and orders governing social distancing related to the COVID-19 pandemic, the operation and marketing of e-Commerce websites, as well as the collection, storage and use of information on consumers interacting with those websites. We may incur additional costs and operational challenges in complying with these laws, and differences in these laws may cause us to operate our businesses differently in different territories. If so, we may incur additional costs and may not fully realize the investment in our global DTC expansion.

Our business depends on our strong brand, and if we are not able to maintain and enhance our brand we may be unable to sell our products, which would adversely affect our business.

The Canada Goose name and brand image are integral to the growth of our business, and to the implementation of our strategies for expanding our business. We believe that the brand image we have developed has significantly contributed to the success of our business and is critical to maintaining and expanding our customer base. Maintaining and enhancing our brand may require us to make substantial investments in areas such as product design, store openings and operations, marketing, e-Commerce, community relations and employee training, and these investments may not be successful.

We anticipate that, as our business continues to expand into new markets and new product categories and as the market becomes increasingly competitive, maintaining and enhancing our brand may become difficult and expensive. Conversely, as we penetrate these new markets and our brand becomes more widely available, it could potentially detract from the appeal stemming from the scarcity of our brand. Our brand may also be adversely affected if our public image or reputation is tarnished by negative publicity. In addition, ineffective marketing, product diversion to unauthorized distribution channels, product defects, counterfeit products, unfair labour practices, and failure to protect the intellectual property rights in our brand are some of the potential threats to the strength of our brand, and those and other factors could rapidly and severely diminish consumer confidence in us. Maintaining and enhancing our brand will depend largely on our ability to be a leader in our industry and to continue to offer a range of high quality products to our customers, which we may not execute successfully. Any of these factors could harm our sales, profitability or financial condition.

A key element of our growth strategy is expansion of our product offerings into new product categories. We may be unsuccessful in designing products that meet our customers’ expectations for our brand or that are attractive to new customers. If we are unable to anticipate customer preferences or industry changes, or if we are unable to modify our products on a timely basis or expand effectively into new product categories, we may lose customers or fail to gain new customers. Our ability to successfully implement our growth strategy may be affected by the continuing impacts of the COVID-19 pandemic, such as periods of mandatory store closures and voluntary or mandated social distancing, and global economic contraction, including as a result of ongoing geopolitical uncertainty. As we expand into new geographic markets, consumers in these new markets may be less compelled by our brand image and may not be willing to pay a higher price to purchase our products as compared to traditional outerwear. Our operating results would also suffer if our investments and innovations do not anticipate the needs of our customers, are not appropriately timed with market opportunities or are not effectively brought to market.

Because our business is concentrated on a single, discretionary product category, outerwear, we are vulnerable to changes in consumer preferences that could harm our sales, profitability and financial condition.

In fiscal 2022, our main product category, outerwear represented the majority of our sales. Consumer preferences often change rapidly. Therefore, our business is substantially dependent on our ability to attract customers who are willing to pay a premium for our products. Any future shifts in consumer preferences away from spending for our products would also have a material adverse effect on our results of operations.

In addition, we believe that continued increases in sales of outerwear will largely depend on customers continuing to demand technical superiority from their products. If the number of customers demanding outerwear does not continue to increase, or if our customers are not convinced that our products are more functional or stylish than other outerwear alternatives, we may not achieve the level of sales necessary to support new growth platforms and our ability to grow our business will be severely impaired.

Our indebtedness could adversely affect our financial condition.

As of April 3, 2022, we had $191.8m of unused commitments under our Revolving Facility (as defined below) and no principal borrowings outstanding, $370.8m of term loans under our Term Loan Facility (as defined below), and no amounts owing under the Mainland China Facilities (as defined below) for total indebtedness of $370.8m. As at April 3, 2022, cash on hand was $287.7m (March 28, 2021 - $477.9m). We also generally experience significant fluctuations in our aggregate indebtedness and working capital over our operating cycle due to the seasonality in our business. Our debt could have important consequences, including:

•limiting our ability to obtain additional financing to fund future working capital, capital expenditures, acquisitions or other general corporate requirements and increasing our cost of borrowing;

•requiring a portion of our cash flow to be dedicated to debt service payments instead of other purposes, thereby reducing the amount of cash flow available for working capital, capital expenditures, acquisitions and other general corporate purposes;

•requiring the net cash proceeds of certain equity offerings to be used to prepay our debt as opposed to being applied for other purposes;

•exposing us to the risk of increased interest rates as certain of our borrowings, including borrowings under our senior secured credit facilities, are at variable rates of interest; and

•limiting our flexibility in planning for and reacting to changes in the industry in which we compete.

The credit agreements governing our senior secured credit facilities contain a number of restrictive covenants that impose operating and financial restrictions on us, including restrictions on our ability to incur certain liens, make investments and acquisitions, incur or guarantee additional indebtedness, pay dividends or make other distributions in respect of, or repurchase or redeem our shares, or enter into certain other types of contractual arrangements affecting our subsidiaries or indebtedness. In addition, the restrictive covenants in the credit agreement governing our Revolving Facility require us to maintain a minimum fixed charge coverage ratio if excess availability under our Revolving Facility falls below a specified threshold.

If we are unable to comply with these restrictions and covenants at times and to the extent they are applicable, including as a result of events beyond our control, we may risk an event of default under the credit facilities, which could accelerate the payment of any amounts then due, and limit our ability to incur future borrowings under the credit facilities, either of which could have a material adverse effect on our business.

Although the credit agreements governing our senior secured credit facilities contain restrictions on the incurrence of additional indebtedness, those restrictions are subject to a number of qualifications and exceptions and the additional indebtedness incurred in compliance with those restrictions could be substantial. We may also seek to amend or refinance one or more of our debt instruments to permit us to finance our growth strategy or improve the terms of our indebtedness.

We operate in a highly competitive market and the size and resources of some of our competitors may allow them to compete more effectively than we can, resulting in a loss of our market share and a decrease in our revenue and profitability.

The market for outerwear is highly fragmented. We compete against a wide range of brands and retailers. Many of our competitors have significant competitive advantages, including larger and broader customer bases, more established relationships with a broader set of suppliers, greater brand recognition, larger product offering, greater financial resources, more established research and development processes, a longer history of store development, greater marketing resources, more established distribution processes, and other resources which we do not have.

Our competitors may be able to achieve and maintain brand affinity and market share more quickly and effectively than we can. Our competitors may also be able to increase sales in their new and existing markets faster than we can by emphasizing different distribution channels than we can. If we fail to compete with such competitors, our business, financial condition and performance could be materially adversely affected.

If we are unable to manage our operations at our current size or to manage any future growth effectively, the pace of our growth may slow.

The countries in which our products are made, manufactured, distributed or sold are in varying stages of restrictions and reopening in response to COVID-19. Until all restrictions, regulations and recommended precautions imposed by local authorities globally are lifted we may continue to experience material adverse impacts on our business, financial condition and results of operations as a result of the global COVID-19 pandemic. If our operations continue to grow, of which there can be no assurance, we will be required to continue to expand our sales and marketing, product development, manufacturing and distribution functions, to upgrade our management information systems and other processes, and to obtain more space for our expanding administrative support and other personnel. Continued or fluctuating growth could strain our resources, and we could experience operating difficulties, including difficulties in hiring, training and managing an increasing number of employees and manufacturing capacity to produce our products, and delays in production and shipments. These difficulties may result in the erosion of our brand image, divert the attention of management and key employees and impact financial and operational results. In order to continue to expand our DTC channel, we expect to add selling, general & administrative (“SG&A”) expenses and depreciation and amortization expenses to our cost base. These costs, which include lease commitments, headcount and capital assets, could result in decreased margins if we are unable to drive commensurate DTC revenue growth.

Our financial performance is subject to significant seasonality and variability, which could cause the price of our subordinate voting shares to decline.

Our business is affected by a number of factors common to our industry and by other factors specific to our business model, which drive seasonality and variability. Historically, key metrics, including those related to our growth, profitability and financial condition, have fluctuated significantly across fiscal periods. We expect this to continue in the future.

Consumer purchases of outerwear are heavily concentrated in the Fall / Winter season. As a result, the majority of our DTC revenue is recognized in the third and fourth fiscal quarter. Our wholesale revenue is weighted earlier in the second and third fiscal quarters, when most orders are shipped to wholesale partners in time for the Fall/Winter season. Our net income is typically negative in the first quarter and reduced or negative in the fourth quarter.

Guided by expected demand in both channels, we manufacture on a linear basis throughout the fiscal year, while adding capacity where relevant to our manufacturing network, resulting in the buildup and staging of inventory for future periods. These dynamics cause significant fluctuations in our working capital, cash conversion, and leverage throughout the fiscal year. At certain points in time, our inventory has increased at a significantly higher rate than our historical revenue growth in the same period.

Historical results, especially comparisons across fiscal quarters, should not be considered indicative of the results to be expected for any future periods. In addition to the seasonality of demand for our products, our financial performance is influenced by a number of factors which are difficult to predict and variable in nature. These include input cost volatility, the timing of consumer purchases and wholesale deliveries which very often shift between fiscal quarters, demand forecast accuracy, inventory availability and the evolution of our channel mix, as well as external trends in weather, traffic and discretionary consumer spending.

A number of other factors which are difficult to predict could also affect the seasonality or variability of our financial performance. Therefore, you should not rely on the results of a single fiscal quarter as an indication of our annual results or future performance.

If we fail to attract enough new customers, we may not be able to increase sales.

Our success depends, in part, on our ability to attract new customers. In order to expand our customer base, we must appeal to and attract consumers who identify with our brand and products. We have made significant investments in enhancing our brand and attracting new customers. We expect to continue to make significant investments to promote our current products to new customers and new products to current and new customers, including through our e-Commerce platforms and retail store presence. Such marketing investments can be expensive and may not result in increased sales. Further, as our brand becomes more widely known, we may not attract new customers as we have in the past. If we are unable to attract enough new customers, we may not be able to increase our sales.

Our sales and results of operations could be adversely affected by our decision to go fur-free.

In fiscal 2022, we announced that we were going fur-free and committed to cease manufacturing with fur by no later than the end of 2022. As a result of this decision, we may lose some of our existing customers or they could choose to buy fewer products. We may also fail to attract enough existing or new customers to purchase our other fur-free products. Even if we expand our product offering and manufacture products that are attractive to our customers, there is no guarantee we will be able to fully convert our fur-product sales into fur-free product sales. If we are unable to replace fur product sales with fur-free sales, if we are unable to sell leftover inventory with fur and/or if we are required to write down inventory as a result of this decision, our sales and results from operations may be adversely affected.

Our business may be adversely affected by global climate trends.

A significant portion of our business is highly dependent on cold-weather seasons and patterns to generate consumer demand for our products. Consumer demand for our products may be negatively affected to the extent global climate patterns trend warmer, reducing typical patterns

of cold-weather events or increasing weather volatility, which could have an adverse effect on our financial condition, results of operations or cash flows.

Our plans to improve and expand our product offerings may not be successful, and implementation of these plans may divert our operational, managerial and administrative resources, which could harm our competitive position and reduce our revenue and profitability.

In addition to our global DTC expansion plans, we are growing our business by expanding our product offerings outside down-filled jackets, including windwear, rainwear, apparel, fleece, accessories and footwear. The principal risks to our ability to successfully carry out our plans to expand our product offering include:

•the success of new products and new product lines will depend on market demand and there is a risk that new products and new product lines will not deliver expected results, which could negatively impact our future sales and results of operations;

•if our expanded product offerings fail to maintain and enhance our distinctive brand identity, our brand image may be diminished and our sales may decrease;

•implementation of these plans may divert management’s attention from other aspects of our business and place a strain on our management, operational and financial resources, as well as our information systems; and

•incorporation of novel materials or features into our products may not be accepted by our customers or may be considered inferior to similar products offered by our competitors.

In addition, our ability to successfully carry out our plans to expand our product offerings may be affected by economic and competitive conditions, changes in consumer spending patterns (including reductions in discretionary consumer spending as a result of geopolitical events or general economic downturns) and changes in consumer preferences and styles. These plans could be abandoned, could cost more than anticipated and could divert resources from other areas of our business, any of which could negatively impact our competitive position and reduce our revenue and profitability.

Unexpected obstacles in new markets may limit our expansion opportunities and cause our business and growth to suffer.

Our growth strategy has led to our expansion into markets outside of North America, including in developing markets. There are varying regulatory environments and market practices in these regions, and such regulations may be unfamiliar to us and we may experience unexpected barriers. It may take us time to penetrate or successfully operate in any new market. In connection with our expansion efforts we may encounter obstacles, including cultural and linguistic differences, differences in regulatory environments, economic or governmental instability, labour practices and market practices, difficulties in keeping abreast of market, business and technical developments, and foreign customers’ tastes and preferences. In developing markets, potential challenges include relatively higher risk of political instability, economic volatility, crime, corruption and social unrest. Such challenges may be exacerbated in many cases by uncertainties regarding how local law is applied and enforced, and with respect to judiciary and administrative mechanism. Furthermore, global events such as pandemics, the related governmental, private sector and individual and collective consumer responsive actions and any subsequent waves of outbreaks of COVID-19 after the management of the initial outbreak, has and could continue to reduce traffic, result in temporary or permanent closures of stores, offices, and factories, and could negatively impact the flow of goods. For example, in response to the ongoing COVID-19 pandemic, local and national governments in many

countries have implemented regional quarantines and mandated the closure of nonessential businesses, which has halted traffic in certain markets.

We may also encounter difficulty expanding into new international markets because of limited brand recognition leading to delayed acceptance of our outerwear by customers in these new international markets. Our failure to develop our business in new international markets or disappointing growth or inadequate management of risks outside of existing markets could harm our business and results of operations.

We rely on a limited number of third-party suppliers to provide high quality raw materials and are reliant on international shipping which could be disrupted and subject to increasing costs.

Our products require high quality raw materials, including polyester, nylon, blend fabrics and down. The price of raw materials depends on a wide variety of factors largely beyond the control of Canada Goose. A shortage, delay or interruption of supply for any reason, including delays caused by the ongoing COVID-19 pandemic and global supply chain issues, could negatively impact our sales and have an adverse impact on our financial results.

In addition, while our suppliers, in turn, source from a number of sub-suppliers, we rely on a very small number of direct suppliers for certain raw materials. As a result, any disruption to these relationships could have an adverse effect on our business. Events that adversely affect our suppliers could impair our ability to obtain inventory in the quantities and at the quality that we require. Such events include difficulties or problems with our suppliers’ businesses, finances, labour relations, shipping, ability to import raw materials, costs, production, insurance and reputation, as well as natural disasters, public health emergencies or other catastrophic occurrences. Our supply of raw materials, for example, could be disrupted by the impact of the ongoing COVID-19 pandemic, and responsive actions such as border closures, restrictions on product shipments, and travel restrictions. A significant slowdown in the retail industry as a whole as a result of the ongoing COVID-19 pandemic, may also result in bankruptcies or permanent closures of some of our suppliers and other vendors. Furthermore, there can be no assurance that our suppliers will continue to provide fabrics and raw materials or provide products that are consistent with our standards. Finally, raw materials and shipping costs have and may continue to increase as a result of inflation, recent geopolitical uncertainty and supply chain issues. Any such increases could adversely impact our financial performance if we are unable to offset such increases with price increases on our products.

More generally, if we need to replace an existing supplier, additional supplies or additional manufacturing capacity may not be available when required on terms that are acceptable to us, or at all, and any new supplier may not meet our strict quality requirements. In the event we are required to find new sources of supply, we may encounter delays in production, inconsistencies in quality and added costs as a result of the time it takes to train our suppliers and manufacturers in our methods, products and quality control standards. Any delays, interruption or increased costs in the supply of our raw materials could have an adverse effect on our ability to meet customer demand for our products and result in lower sales and profitability both in the short and long-term.

We could experience significant disruptions in supply from our current sources and any disruptions of our supply chain could have a material adverse effect on our operating and financial results.

We generally do not enter into long-term formal written agreements with our suppliers, and typically transact business with our suppliers on an order-by-order basis. There can be no assurance that there will not be a disruption in the supply of raw materials and certain finished goods from current sources or, in the event of a disruption, that we would be able to locate

alternative suppliers of materials or finished goods of comparable quality at an acceptable price, or at all. Identifying a suitable supplier is an involved process that requires us to become satisfied with their quality control, responsiveness and service, financial stability and labour and other ethical practices. Any delays, interruption or increased costs in the supply of fabric or manufacture of our products, including as a result of the ongoing COVID-19 pandemic, could have an adverse effect on our ability to meet customer demand for our products and result in lower revenue and operating income both in the short and long-term.

In addition, while we have not been materially affected by the ongoing global supply chain disruptions in fiscal 2022, any disruptions in our supply chain capabilities, including due to the impacts of the COVID-19 pandemic, trade restrictions, political instability, severe weather and natural disasters, war, labour shortages, reduced freight availability and increased costs, port disruptions and other factors, could impair our ability to distribute or manufacture products. These factors are beyond our control and to the extent we are unable to mitigate the likelihood or potential impact of such events, there could be a material adverse effect on our operating and financial results.

Our business and results of operations could be harmed if we are unable to accurately forecast demand for our products.

To ensure adequate inventory supply, we forecast inventory needs, which are subject to seasonal and quarterly variations in consumer demand. If we fail to accurately forecast demand, we may experience excess inventory levels or a shortage of product. Our ability to forecast accurately has become increasingly important as we have expanded our DTC channel globally and could be affected by many factors outside of our control, including an increase or decrease in consumer demand for our products or for products of our competitors, our failure to accurately forecast consumer acceptance of new products, product introductions by competitors, unanticipated changes in general market conditions and, therefore, consumer spending in the sector (for example, because of unexpected effects on inventory supply and consumer demand), and weakening of economic conditions or consumer confidence in future economic conditions. In our wholesale channel, a majority of orders delivered in a given fiscal year are received in the prior fiscal year, enabling us to manufacture inventory relative to a defined order book. In the DTC channel, we manufacture according to our forecasts of consumer demand. If we overestimate the demand for our products, we could face inventory levels in excess of demand, which could result in inventory write-downs or write-offs and the sale of excess inventory at discounted prices, which would harm our gross margins and our brand management efforts. The potential for overestimation is expected to increase as a larger portion of our sales comes through our DTC channel, and as we expand our product offerings. If we underestimate the demand for our products, we may not be able to produce products to meet demand, and this could result in delays in the shipment of our products and our failure to capitalize on demand, as well as damage to our reputation and wholesale partner relationships. In addition, failures to accurately predict the level of demand for our products could harm our profitability and financial condition.

If we are unable to establish and protect our trademarks and other intellectual property rights, counterfeiters may produce copies of our products and such counterfeit products could damage our brand image.

We expect that there is a high likelihood that counterfeit products or other products infringing on our intellectual property rights will continue to emerge, seeking to benefit from the consumer demand for Canada Goose products. These counterfeit products do not provide the functionality of our products and we believe they are of substantially lower quality, and if customers are not able to differentiate between our products and counterfeit products, this could damage our brand image. In order to protect our brand, we devote significant resources to the registration

and protection of our trademarks and to anti-counterfeiting efforts worldwide. We actively pursue entities involved in the trafficking and sale of counterfeit merchandise through legal action or other appropriate measures. In spite of our efforts, counterfeiting still occurs and, if we are unsuccessful in challenging a third-party’s rights related to trademark, copyright or other intellectual property rights, this could adversely affect our future sales, financial condition and results of operations. We cannot guarantee that the actions we have taken to curb counterfeiting and protect our intellectual property will be adequate to protect the brand and prevent counterfeiting in the future or that we will be able to identify and pursue all counterfeiters who may seek to benefit from our brand.

Competitors have and will likely continue to attempt to imitate our products and technology and divert sales. If we are unable to protect or preserve our intellectual property rights, brand image and proprietary rights, our business may be harmed.

As our business has expanded, our competitors have imitated, and will likely continue to imitate, our product designs and branding, which could harm our business and results of operations. Competitors who manufacture products seeking to imitate our products could divert sales and dilute the value of our brand. We believe our trademarks, copyrights and other intellectual property rights are extremely important to our success and our competitive position.

However, enforcing rights to our intellectual property may be difficult and costly, and we may not be successful in stopping infringement of our intellectual property rights, particularly in foreign countries, which could make it easier for competitors to capture market share. Intellectual property rights necessary to protect our products and brand may also be unavailable or limited in certain countries. Furthermore, our efforts to enforce our trademarks, copyrights and other intellectual property rights may be met with defenses, counterclaims and countersuits attacking the validity and enforceability of our trademark and other intellectual property rights. Continued sales of competing products by our competitors could harm our brand and adversely impact our business, financial condition and results of operations.

Labour-related matters, including labour disputes, may adversely affect our operations.

In fiscal 2022, 4 of our in-house manufacturing and warehouse facilities in Winnipeg voted to unionize. As of April 3, 2022, approximately 46% of our employees are members of labour unions, comprised of active employees at 7 of our 10 operated manufacturing and warehouse facilities (comprised of 8 manufacturing facilities, 1 warehouse facility and 1 Baffin manufacturing facility). The exposure to unionized labour in our workforce presents an increased risk of strikes and other labour disputes, and our ability to alter labour costs will be subject to collective bargaining, which could adversely affect our results of operations. In addition, potential labour disputes at independent factories where our goods are produced, shipping ports, or transportation carriers create risks for our business, particularly if a dispute results in work slowdowns, lockouts, strikes or other disruptions during our peak manufacturing, shipping and selling seasons. Any potential labour dispute, either in our own operations or in those of third parties, on whom we rely, could materially affect our costs, decrease our sales, harm our reputation or otherwise negatively affect our sales, profitability or financial condition.

The majority of our workforce is composed of manufacturing employees based in the provinces of Ontario, Manitoba and Québec, a sizeable portion of whom are paid minimum wage rates based on the applicable provincial minimum wage, as well as a number of other benefits including variable pay components. Many jurisdictions, including certain Canadian provinces, either have increased or plan to increase their minimum wage and other benefits requirements, which may materially increase our manufacturing costs. Minimum wage increases such as the foregoing may not only increase the wages of our minimum wage employees, but also the wages paid to our other hourly or salaried employees who, in recognition of their tenure, performance, responsibilities and other similar considerations, historically received a rate of pay

exceeding the applicable minimum wage. Further, if we fail to pay such higher wages, we could suffer increased employee turnover. It is difficult to predict when such increases may take place and any such increase could have a material adverse effect on our business, financial condition, results of operations and prospects.

Further, the risks to our business due to a pandemic or other public health emergency, such as the ongoing COVID-19 pandemic, include risks to employee health and safety, prolonged restrictive measures put in place in order to control the crisis and limitations on travel, which may result in temporary shortages of staff or unavailability of certain employees or consultants with key expertise or knowledge of our business and, impact on workforce productivity.

We rely significantly on information technology systems for our distribution systems and other critical business functions, and are increasing our reliance on these functions as our DTC channel expands. Any failure, inadequacy, or interruption of those systems could harm our ability to operate our business effectively.

We rely on information systems to effectively manage all aspects of our business, including merchandise planning, manufacturing, allocation, distribution, sales and financial reporting. Our reliance on these systems, and their importance to our business, will increase as we expand our DTC channel and global operations. We rely on a number of third parties to help us effectively manage these systems. If information systems we rely on fail to perform as expected, our business could be disrupted. The failure by us or our vendors to manage and operate our information technology systems as expected could disrupt our business, result in not providing adequate product, losing sales or market share, and reputational harm, causing our business to suffer. Any such failure or disruption could have a material adverse effect on our business.

Our information technology systems and vendors also may be vulnerable to damage or interruption from circumstances beyond our or their control, including fire, flood, natural disasters, systems failures, network or communications failures, power outages, public health emergencies, security breaches, cyber-attacks and terrorism. For example, we have implemented a hybrid work-from-home policy for our corporate workforce in North America and Europe. This increase in working remotely could increase our cyber security risk, create data accessibility concerns, and make us more susceptible to communication disruptions, any of which could adversely impact our business operations. We maintain disaster recovery procedures intended to mitigate the risks associated with such events, but there is no guarantee that these procedures will be adequate in any particular circumstance. As a result, such an event could materially disrupt, and have a material adverse effect on, our business.

A portion of our sales are to wholesale partners, directly and through distributors, and we depend on them to display and present our products to customers in our wholesale channel. Our failure to maintain and further develop our relationships with our wholesale partners could harm our business.

A portion of our sales are made to wholesale partners, either directly or indirectly, through distributors. Our wholesale partners service customers by stocking and displaying our products and explaining our product attributes. Our relationships with these partners are important to the authenticity of our brand and the marketing programs we continue to deploy.

If we fail to maintain and develop relationships with our wholesale partners, they could decide to emphasize products from our competitors, to redeploy their retail floor space to other product categories, or to take other actions that reduce their purchases of our products. We do not receive long-term purchase commitments from our wholesale partners, and confirmed orders received from our wholesale partners may be difficult to enforce. Factors that could affect our ability to maintain or expand our sales to these wholesale partners include: (a) failure to accurately identify the needs of our customers; (b) lack of customer acceptance of new

products, product expansions or changes in products (for example, resulting from our announcement in fiscal 2022 that we would cease manufacturing with fur by no later than end of 2022); (c) unwillingness of our wholesale partners and customers to attribute premium value to our new or existing products or product expansions relative to competing products; (d) failure to obtain shelf space from our wholesale partners; and (e) new, well-received product introductions by competitors. If we lose any of our wholesale partners, or if they reduce their purchases of our existing or new products, or their number of stores or operations are reduced, or they promote products of our competitors over ours, or they suffer financial difficulty or insolvency, our sales and profitability could be harmed.

We cannot ensure that our wholesale partners will continue to purchase and carry our products in accordance with current practices or carry any new products that we develop particularly in light of the ongoing COVID-19 pandemic. The recent decline in the overall retail sector, including ongoing disruptions related to COVID-19, has been challenging for our wholesale partners. Due to COVID-19 and the related reduction in available credit insurance, we increased the amount of risk we undertook with respect to collecting payments from our wholesale partners. Such conditions, among other things, have resulted, and in the future may result, in financial difficulties leading to restructurings, bankruptcies, liquidations and other unfavorable events for our wholesale partners and may cause such partners to reduce or discontinue orders of our products or be unable to pay us for products they have purchased from us. This has caused us to negotiate shortened payment terms and reduce credit limits in certain cases. If the overall retail environment continues to decline or if one or more of our wholesale partners is unable or unwilling to meet our payment terms, our business and results of operations could be harmed.

Our marketing programs, our e-Commerce initiatives and our collection, use and disclosure of transactional and personal information about our customers are governed by an evolving set of laws and enforcement trends and unfavorable changes in those laws or trends, or our failure to comply with existing or future laws, could substantially harm our business and results of operations.

We collect, process, disclose, maintain and otherwise use data, including personal information about individuals, including data available to us through online activities and other customer interactions in our business. Our current and future marketing programs may depend on our ability to collect, maintain, disclose and otherwise use this information, and our ability to do so is subject to evolving and increasingly demanding international, U.S., Canadian, Chinese, European and other laws, including for example, the European Union’s General Data Privacy Regulation, the California Consumer Privacy Act, Canada’s Personal Information Protection and Electronic Documents Act and China’s Personal Information Protection Law. These information and privacy laws require companies to satisfy new requirements regarding the handling of personal information, including its use, protection and the ability of persons whose data is stored to access, correct or delete such data about themselves. Failure to comply with such requirements could result in significant penalties. We strive to comply with all applicable laws and other legal obligations relating to privacy, data protection and customer protection, including those relating to the collection, use and disclosure of personal information for marketing purposes. It is possible, however, that these requirements may be inconsistent from one jurisdiction to another, may conflict with other rules, may conflict with our practices or fail to be observed by our employees or business partners. If so, we may suffer damage to our reputation and be subject to proceedings or actions against us by governmental entities or others. Any such proceeding or action could hurt our reputation, force us to spend significant amounts to defend our practices, distract our management or otherwise have an adverse effect on our business.

Certain of our marketing practices rely upon the sending of commercial electronic messages, including e-mails, to communicate with consumers. We may face risk if our use of commercial

electronic messages is found to violate applicable laws and regulations. We post our privacy policies and practices concerning the collection, use and disclosure of personal information on our websites. Any failure by us to comply with our posted privacy policies or other privacy-related laws and regulations could result in proceedings which could potentially harm our business. In addition, as information and privacy laws and anti-spam laws change, we may incur additional costs to ensure we remain in compliance. If information and data privacy laws and anti-spam laws become more restrictive at the international, federal, provincial or state levels, our compliance costs may increase, our ability to effectively engage customers via personalized marketing may decrease, our investment in our e-Commerce platform may not be fully realized, our opportunities for growth may be curtailed by our compliance burden and our potential reputational harm or liability for breaches may increase.

Data security breaches and other cyber security events could result in disruption to our operations or financial losses and could negatively affect our reputation, credibility and business.

As with other companies, we and our service providers are subject to risks associated with data security breaches and other cyber security events. We collect, process, maintain and use personal information relating to our customers and employees. We also disclose personal information about consumers and employees to third party service providers, who help us with our business operations, including the operation of our e-Commerce site and the provision of various social media tools and websites we use as part of our marketing strategy. Any attempted or actual unauthorized disclosure of personal information regarding our employees, customers or website visitors could harm our reputation and credibility, reduce our e-Commerce sales, impair our ability to attract website visitors, reduce our ability to attract and retain customers and could result in litigation against us or the imposition of significant fines or penalties.

Our online activities, including our e-Commerce websites, may also be subject to denial of service or other forms of cyber attacks. While we have taken measures we believe are reasonable to protect against those types of attacks, those measures may not adequately protect our online activities from such attacks. If a denial of service attack or other cyber event were to affect our e-Commerce sites or other information technology systems, our business could be disrupted, we may lose sales or valuable data, and our reputation, results of operations and financial condition may be adversely affected. Additionally, new and evolving data protection legislation could impose new requirements such as shorter notification timeframes that could increase the risks associated with data security breaches.

We have procedures and technology in place designed to safeguard our customers’ debit and credit cards and our customers’ and employees’ other personal information under our control, and we continue to devote significant resources to network security, backup and disaster recovery, and other security measures. Nevertheless, these security measures cannot provide absolute security or guarantee that we will be successful in preventing and responding to breaches, loss, theft, or unauthorized access, disclosure, copying, use, or modification of personal information under our control.

As consumers are gaining more data privacy awareness, in the future there may be new foreign, federal, provincial and state laws and legislative proposals addressing data privacy and security, as well as increased data protection obligations imposed on merchants by credit card issuers. As a result, we may become subject to more extensive requirements to protect the personal information that we collect, use and disclose, resulting in, for example, increased compliance costs.

A significant portion of our business functions operate out of our headquarters in Toronto. As a result, our business is vulnerable to disruptions due to local weather, economics and other factors.

Most of our significant business functions reside at our headquarters in Toronto, Canada. Events such as public health emergencies, including the ongoing COVID-19 pandemic, extreme local weather, natural disasters, transportation strikes, acts of terrorism, significant economic disruptions or unexpected damage to the facility have resulted and could result in an unexpected disruption to our business as a whole. If a disruption of this type should occur, our ability to conduct our business could be adversely affected or interrupted entirely and adversely affect our financial and operating results.

Our success is substantially dependent on the continued service of our senior management.

We have not obtained key man life insurance policies on any members of our senior management team. As a result, we would not be protected against the associated financial loss if we were to lose the services of members of our senior management team.

Talent management, employee retention and experience are important factors in our success.

Our future success also depends on our ability to attract, develop, and retain talent with the necessary knowledge, skills and experience and establish a positive work culture to maintain operations and ensure we are competitive in our industry. Competition for experienced and well-qualified personnel is intense amidst a tight labour market with labour shortages and increased wage expectations. We, or the suppliers and service providers we rely on, may not be successful in attracting, hiring and retaining such personnel, which could impact our ability to remain competitive or operate efficiently and effectively. If we are unable to retain, hire, attract and motivate talented employees with the appropriate skill sets, or if changes to our organizational structure, operating results, or business model adversely affect morale or retention, we may not achieve our objectives and our results of operations could be adversely impacted.

We rely on payment cards to receive payments, and are subject to payment-related risks.

For our DTC sales, as well as for sales to certain wholesale partners, we accept a variety of payment methods, including credit cards, debit cards and electronic funds transfers. Accordingly, we are, and will continue to be, subject to significant and evolving regulations and compliance requirements relating to payment card processing. This includes laws governing the collection, processing and storage of sensitive consumer information, as well as industry requirements such as the Payment Card Industry Data Security Standard (“PCI-DSS”). These laws and obligations may require us to implement enhanced authentication and payment processes that could result in increased costs and liability, and reduce the ease of use of certain payment methods. For certain payment methods, including credit and debit cards, we pay interchange and other fees, which may increase over time. We rely on independent service providers for payment processing, including credit and debit cards. If these independent service providers become unwilling or unable to provide these services to us or if the cost of using these

providers increases, our business could be harmed. We are also subject to payment card association operating rules and agreements, including PCI-DSS, certification requirements and rules governing electronic funds transfers, which could change or be reinterpreted to make it difficult or impossible for us to comply. If we fail to comply with these rules or requirements, or if our data security systems are breached or compromised, we may be liable for losses incurred by card issuing banks or consumers, subject to fines and higher transaction fees, lose our ability to accept credit or debit card payments from our consumers, or process electronic fund transfers or facilitate other types of payments. Any failure to comply could significantly harm our brand, reputation, business, and results of operations.

Increased scrutiny from investors and others regarding our environmental, social, governance, or sustainability responsibilities could result in additional costs or risks and adversely impact our reputation, employee retention, and willingness of customers and suppliers to do business with us.

If our independent manufacturers or our suppliers fail to use ethical business practices and fail to comply with changing laws and regulations or our applicable guidelines, our brand image could be harmed due to negative publicity.

Our current and future products may experience quality problems from time to time that can result in negative publicity, litigation, product recalls and warranty claims, which could result in decreased revenue and operating margin, and harm to our brand.

There can be no assurance we will be able to detect, prevent, or fix all defects that may affect our products. Failure to detect, prevent, or fix defects, or the occurrence of real or perceived quality, health or safety problems or material defects in our current and future products, could result in a variety of consequences, including a greater number of product returns than expected from customers and our wholesale partners, litigation, product recalls, and credit, warranty or other claims, among others, which could harm our brand, sales, profitability and financial condition. We stand behind every Canada Goose outerwear product with a warranty against defects with reasonable use, for the expected lifetime of the product. Because of this comprehensive warranty, quality problems could lead to increased warranty costs, and divert the attention of our manufacturing facilities. Such problems could hurt our premium brand image, which is critical to maintaining and expanding our business. Any negative publicity or lawsuits filed against us related to the perceived quality and safety of our products could harm our brand and decrease demand for our products.

Our business could be adversely affected by protestors or activists.

Our products include certain animal products, including goose and duck down in all of our outerwear and coyote fur on the hoods of some of our parkas, which has drawn the attention of animal welfare activists. As a result, we have been the target of protestors and activists in the past. While we ended the purchase of all fur at the end of 2021 and announced that we will cease manufacturing with fur no later than the end of 2022, we may continue to be targeted by protestors and activists in the future. We have been, and may in the future, also be impacted by widespread protests in any country or region that we trade.

Protestors can disrupt sales at our stores, cause or prolong store closures, and lead to property damage. Protestors can also use social media or other campaigns to sway public opinion against our products. In addition, such activism could influence laws or regulations applicable to the jurisdictions in which we operate, including laws and regulations related to the use of animal by-products. If any such activists are successful, our sales and results of operations may be adversely affected.

The cost of raw materials could increase our cost of goods sold and cause our results of operations and financial condition to suffer.

The raw materials used in our supply chain include synthetic fabrics and natural products, including blend fabrics, nylon, polyester and down. Significant price fluctuations, including as a result of inflation, or shortages in the cost of these raw materials may increase our cost of goods sold and cause our results of operations and financial condition to suffer.

Additionally, increasing costs of labour, freight and energy could increase our and our suppliers’ cost of goods. If our suppliers are affected by increases in their costs of labour, freight and energy, (for example, because of rising global energy prices, increased global worker shortages impacting shipping and ports, truck driver shortages, increased congestion or other disruptions affecting the global distribution chain) they may attempt to pass these cost increases on to us. If we pay such increases, we may not be able to offset them through increases in our pricing, which could adversely affect our results of operation and financial condition.

Fluctuations in foreign currency exchange rates could harm our results of operations as well as the price of our subordinate voting shares.

The presentation currency for our consolidated financial statements is the Canadian dollar. Because we recognize sales in U.S. dollars, Euros, British pounds, Swiss francs, Hong Kong dollars and Chinese yuan, if any of these currencies weakens against the Canadian dollar it would have a negative impact on our local operating results upon translation of those results into Canadian dollars for the purposes of financial statement consolidation. Although we engage in short-term hedging transactions for a portion of our foreign currency denominated cash flows to mitigate foreign exchange risks, depending upon changes in future currency rates, including those fluctuations derived from the broader impact on the global economy caused by the ongoing COVID-19 pandemic and geopolitical uncertainty, such gains or losses could have a significant, and potentially adverse, effect on our results of operations. Foreign exchange variations have been significant in the past and current foreign exchange rates may not be indicative of future exchange rates. Significant variations in foreign exchange rates may also make hedging contracts ineffective for hedge accounting purposes in future periods.

Our earnings per share are reported in Canadian dollars, and accordingly may be translated into U.S. dollars by analysts or our investors. As a result, the perceived value of an investment in our subordinate voting shares to a U.S. shareholder will fluctuate as the U.S. dollar rises and falls against the Canadian dollar. As a result, U.S. and other shareholders seeking U.S. dollar total returns, including increases in the share price, are subject to foreign exchange risk as the U.S. dollar fluctuates in value against the Canadian dollar.

Political uncertainty and an increase in trade protectionism could have a material adverse effect on our business, results of operation and financial condition.

As a prominent Canadian brand, geopolitical events that involve Canada may have an impact on our business and share price. In addition, our brand and Canadian heritage may be detrimental to the company in the context of geopolitical disputes aimed at Canada or actors or situations with significant actual or perceived connection to Canada. We sell a significant portion of our products to customers outside of Canada and changes, potential changes or uncertainties in regulatory and economic conditions or laws and policies governing foreign trade, manufacturing, and development and investment in the territories and countries where we operate, could adversely affect our business and consolidated financial statements. Consumer sentiment in countries outside Canada may be affected by unforeseen factors leading to harm to our brand or may impact our business. Any potential or ongoing governmental action related to tariffs or international trade agreements has the potential to adversely impact demand for our products, our costs, customers, suppliers and/or the Canadian, U.S. or world economy or certain sectors thereof and, thus, to adversely impact our business.

Because of our international operations, which we are expanding, we could be adversely affected by violations of the U.S. Foreign Corrupt Practices Act and similar worldwide anti-bribery and anti-kickback laws.

We are conducting an increasing amount of our business outside Canada as well as sourcing an increasingly significant portion of our products from outside Canada. The U.S. Foreign Corrupt Practices Act, the U.K. Bribery Act and other similar anti-bribery and anti-kickback laws and regulations generally prohibit companies and their intermediaries from making improper payments government officials for the purpose of obtaining or retaining business. While we take steps to ensure that our distributors, consultant and personnel comply with applicable law, we cannot assure you that we will be successful in preventing our employees or other agents from taking actions in violation of these laws or regulations. Such violations, or allegations of such violations, could disrupt our business and result in a material adverse effect on our financial condition, results of operations and cash flows.

We may become involved in legal or regulatory proceedings and audits.

Our business requires compliance with many laws and regulations, including labour and employment, sales and other taxes, customs, and consumer protection laws and ordinances that regulate retailers generally and/or govern the importation, promotion and sale of merchandise, and the operation of stores and warehouse facilities. Failure to comply with these laws and regulations could subject us to lawsuits and other proceedings, and could also lead to damage awards, fines and penalties. We have in the past and may become involved in legal proceedings or audits, including government and agency investigations, and consumer, employment, tort and other litigation. The outcome of some of these legal proceedings, audits, and other contingencies could require us to take, or refrain from taking, actions that could harm our operations or require us to pay substantial amounts of money, harming our financial condition. Additionally, defending against these lawsuits and proceedings may be necessary, which could result in substantial costs and diversion of management’s attention and resources, harming our financial condition. There can be no assurance that any pending or future legal or regulatory proceedings and audits will not harm our business, financial condition and results of operations.

We are subject to many hazards and operational risks that can disrupt our business, some of which may not be insured or fully covered by insurance.

Our operations are subject to many hazards and operational risks inherent to our business, including: general business risks, product liability, false or misleading advertising claims, product recall and damage to third parties, our infrastructure or properties caused by fires, floods and other natural disasters, power losses, telecommunications failures, terrorist attacks, public health emergencies (such as the COVID-19 pandemic), human errors, political instability, social and labour unrest or war and similar events.

Our insurance coverage may exclude or may be inadequate to cover our liabilities related to such hazards or operational risks. In addition, we may not be able to maintain adequate insurance in the future at rates we consider reasonable and commercially justifiable, and insurance may not continue to be available on terms as favorable as our current arrangements. The occurrence of a significant uninsured claim, or a claim in excess of the insurance coverage limits maintained by us could harm our business, results of operations and financial condition.

Furthermore, our inability to successfully recover should we experience a disaster or other business continuity problem could cause material financial loss, loss of human capital, regulatory actions, reputational harm, or legal liability.

We may be subject to in-store and workplace health and safety liability, claims and penalties.

We are committed to protecting the health and well-being of our customers and employees in all of our stores and workplaces. We have workplace and in-store health and safety programs in place and have established policies and procedures aimed at ensuring compliance with applicable legislative requirements within our stores. Failure to comply with established policies and procedures or applicable legislative requirements could result in increased workplace or in-store injury-related liability and penalties. Any workplace or in-store injuries could lead to claims or litigation being brought against our company, which could adversely affect the reputation of our company and could have a material adverse effect on our business, operating results and financial condition. Although we maintain insurance policies we deem sufficient to address those situations, there is no guarantee a particular claim would be accepted by the insurer or that the insurance coverage would be sufficient.

Any failure to maintain effective internal control over financial reporting could have a material adverse effect on our ability to produce accurate and timely financial statements, which could harm our operating results, financial condition, and cash flows, our ability to operate our business and our reputation.

The process of designing and implementing effective internal controls is a continuous effort that requires us to anticipate and react to changes in our business and to expend resources to maintain a system of internal controls that is adequate to satisfy our reporting obligations as a public company. The measures we take may not be sufficient to satisfy our obligations as a public company and if we are unable to establish or maintain appropriate internal financial reporting controls and procedures, it could cause us to fail to meet our reporting obligations on a timely basis, result in material misstatements in our consolidated financial statements and harm our results of operations.

We cannot provide assurances that material weaknesses or significant deficiencies will not occur in the future and that we will be able to remediate such weaknesses or deficiencies in a timely manner, which could have a material adverse effect on our ability to produce accurate and timely financial statements, which could harm our operating results, financial condition, and cash flows, our ability to operate our business and our reputation.

If we identify any material weakness in the future, it could negatively impact the company’s ability to prepare its future financial statements in conformity with IFRS. If the company were unable to prepare its future financial statements in conformity with IFRS, we may be unable to report our financial results accurately, which could increase operating costs, trigger an event of default under our credit agreements and harm our business, including our investors’ perception of our business, our share price and our ability to finance our operations.

Failure to maintain adequate financial and management processes and controls could lead to errors in our financial reporting, which could harm our business and cause a decline in our share price.

Reporting obligations as a public company and our anticipated growth have placed and are likely to continue to place a considerable strain on our financial and management systems, processes and controls, as well as on our personnel. In addition, we are required to document and test our internal controls over financial reporting pursuant to Section 404 of the Sarbanes-Oxley Act so that our management can certify the effectiveness of our internal controls. If any material weaknesses in our internal controls are identified in the future, we could be subject to regulatory scrutiny and a loss of public confidence, which could harm our business and cause a decline in our share price. In addition, if we do not maintain adequate financial and management personnel, processes and controls, we may not be able to accurately report our financial performance on a timely basis, which could cause a decline in our share price and harm our ability to raise capital. Failure to accurately report our financial performance on a timely basis could also jeopardize our continued listing on the Toronto Stock Exchange (“TSX”), the New York Stock Exchange (“NYSE”) or any other exchange on which our subordinate voting shares may be listed. Delisting of our subordinate voting shares from any exchange would reduce the liquidity of the market for our subordinate voting shares, which would reduce the price of our subordinate voting shares and increase the volatility of our share price.

We do not expect that our disclosure controls and procedures and internal controls over financial reporting will prevent all error or fraud. A control system, no matter how well-designed and implemented, can provide only reasonable, not absolute, assurance that the control system’s objectives will be met. Further, the design of a control system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs. Due to the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues within an organization are detected. Due to the

inherent limitations in a cost-effective control system, misstatements due to error or fraud may occur and may not be detected in a timely manner or at all. If we cannot provide reliable financial reports or prevent fraud, our reputation and operating results could be materially adversely affected, which could also cause investors to lose confidence in our reported financial information, which in turn could result in a reduction in the trading price of the subordinate voting shares.

Risks Related to Our Subordinate Voting Shares

The dual-class structure contained in our articles has the effect of concentrating voting control and the ability to influence corporate matters with Bain Capital and our Chairman and Chief Executive Officer, who held our shares prior to our initial public offering.

Our multiple voting shares have 10 votes per share and our subordinate voting shares have 1 vote per share. As of April 3, 2022, shareholders who hold multiple voting shares (Bain Capital and our Chairman and Chief Executive Officer (including their respective affiliates)), together hold approximately 90.4% of the voting power of our outstanding voting shares and therefore have significant influence over our management and affairs and over all matters requiring shareholder approval, including the election of directors and significant corporate transactions.

In addition, because of the 10-to-1 voting ratio between our multiple voting shares and subordinate voting shares, the holders of our multiple voting shares will control a majority of the combined voting power of our voting shares even where the multiple voting shares represent a substantially reduced percentage of our total outstanding shares. The concentrated voting control of holders of our multiple voting shares limits the ability of holders of our subordinate voting shares to influence corporate matters for the foreseeable future, including the election of directors as well as with respect to decisions regarding amending of our share capital, creating and issuing additional classes of shares, making significant acquisitions, selling significant assets or parts of our business, merging with other companies and undertaking other significant transactions. As a result, holders of multiple voting shares will have the ability to influence or control many matters affecting us and actions may be taken that holders of our subordinate voting shares may not view as beneficial. The market price of our subordinate voting shares could be adversely affected due to the significant influence and voting power of the holders of multiple voting shares. Additionally, the significant voting interest of holders of multiple voting shares may discourage transactions involving a change of control, including transactions in which an investor, as a holder of the subordinate voting shares, might otherwise receive a premium for the subordinate voting shares over the then-current market price, or discourage competing proposals if a going private transaction is proposed by one or more holders of multiple voting shares.

Future transfers by holders of multiple voting shares, other than permitted transfers to such holders’ respective affiliates or direct family members or to other permitted holders, will result in those shares automatically converting to subordinate voting shares, which will have the effect, over time, of increasing the relative voting power of those holders of multiple voting shares who retain their multiple voting shares.

Bain Capital continues to have significant influence over us in the future, including control over decisions that require the approval of shareholders, which could limit shareholders’ ability to influence the outcome of matters submitted to shareholders for a vote.

We are currently controlled by Bain Capital. As of April 3, 2022, Bain Capital beneficially owned approximately 60.5% of our outstanding multiple voting shares, or approximately 54.7% of the combined voting power of our multiple voting and subordinate voting shares outstanding. In

addition, our Chairman and Chief Executive Officer beneficially owns approximately 39.5% of our outstanding multiple voting shares, or approximately 35.7% of the combined voting power of our outstanding voting shares. As long as Bain Capital owns or controls at least a majority of our outstanding voting power, it will have the ability to exercise substantial control over all corporate actions requiring shareholder approval, irrespective of how our other shareholders may vote, including the election and removal of directors and the size of our board of directors, any amendment of our notice of articles and articles, or the approval of any merger or other significant corporate transaction, including a sale of substantially all of our assets. Even if its ownership falls below 50% of the voting power of our outstanding voting shares, Bain Capital will continue to be able to strongly influence or effectively control our decisions. Bain Capital’s multiple voting shares convert automatically to subordinate voting shares at the time that Bain Capital and its affiliates no longer beneficially own at least 15% of the outstanding subordinate voting shares and multiple voting shares on a non-diluted basis. Even once Bain Capital’s multiple voting shares convert into subordinate voting shares we may continue to be a controlled company so long as an entity controlled by our Chairman and Chief Executive Officer continues to hold multiple voting shares.

Additionally, Bain Capital’s interests may not align with the interests of our other shareholders. Bain Capital is in the business of making investments in companies and may acquire and hold interests in businesses that compete directly or indirectly with us. Bain Capital may also pursue acquisition opportunities that may be complementary to our business, and, as a result, those acquisition opportunities may not be available to us.

We are a controlled company within the meaning of the NYSE listing rules and, as a result, will qualify for, and intend to rely on, exemptions from certain corporate governance requirements. Our shareholders will not have the same protections afforded to shareholders of companies that are subject to such requirements.

We are a controlled company within the meaning of the corporate governance standards of the NYSE. Under these rules, a company of which more than 50% of the voting power for the election of directors is held by an individual, group or another company is a controlled company and may elect not to comply with certain corporate governance requirements, including the requirements that:

•we have a compensation committee that is composed entirely of independent directors; and

•we have a nominating and governance committee that is composed entirely of independent directors.

As a foreign private issuer, we are exempt from certain U.S. securities law disclosure requirements that apply to a domestic U.S. issuer, which may limit the information publicly available to our shareholders.

As a foreign private issuer we are not required to comply with all of the periodic disclosure and current reporting requirements of the Securities Exchange Act of 1934, as amended (“Exchange Act”) and therefore there may be less publicly available information about us than if we were a U.S. domestic issuer. For example, we are not subject to the proxy rules in the United States and disclosure with respect to our annual meetings and any special meeting of shareholders will be governed by Canadian requirements. In addition, our officers, directors and principal shareholders are exempt from the reporting and short-swing profit recovery provisions of Section 16 of the Exchange Act and the rules thereunder. Furthermore, as a foreign private issuer, we may take advantage of certain provisions in the NYSE listing rules that allow us to follow Canadian law for certain governance matters.

Our articles, and certain Canadian legislation contain provisions that may have the effect of delaying or preventing a change in control.

Certain provisions of our articles, together or separately, could discourage potential acquisition proposals, delay or prevent a change in control and limit the price that certain investors may be willing to pay for our subordinate voting shares. For instance, our articles contain provisions that establish certain advance notice procedures for nomination of candidates for election as directors at shareholders’ meetings. A non-Canadian must file an application for review with the Minister responsible for the Investment Canada Act and obtain approval of the Minister prior to acquiring control of a “Canadian business” within the meaning of the Investment Canada Act, where prescribed financial thresholds are exceeded. Furthermore, acquisitions of our subordinate voting shares and multiple voting shares may be reviewed pursuant to the Competition Act (Canada). This legislation permits the Commissioner of Competition, or Commissioner, to review any acquisition or establishment, directly or indirectly, including through the acquisition of shares, of control over or of a significant interest in us. Otherwise, there are no limitations either under the laws of Canada or British Columbia, or in our articles on the rights of non-Canadians to hold or vote our subordinate voting shares and multiple voting shares. Any of these provisions may discourage a potential acquirer from proposing or completing a transaction that may have otherwise presented a premium to our shareholders.

Because we are a corporation incorporated in British Columbia and some of our directors and officers are resident in Canada, it may be difficult for investors in the United States to enforce civil liabilities against us based solely upon the federal securities laws of the United States. Similarly, it may be difficult for Canadian investors to enforce civil liabilities against our directors and officers residing outside of Canada.

We are a corporation incorporated under the laws of British Columbia with our principal place of business in Toronto, Canada. Some of our directors and officers and the auditors or other experts named herein are residents of Canada and all or a substantial portion of our assets and those of such persons are located outside the United States. Consequently, it may be difficult for U.S. investors to effect service of process within the United States upon us or our directors or officers or such auditors who are not residents of the United States, or to realize in the United States upon judgments of courts of the United States predicated upon civil liabilities under the Securities Act. Investors should not assume that Canadian courts: (1) would enforce judgments of U.S. courts obtained in actions against us or such persons predicated upon the civil liability provisions of the U.S. federal securities laws or the securities or blue sky laws of any state within the United States or (2) would enforce, in original actions, liabilities against us or such persons predicated upon the U.S. federal securities laws or any such state securities or blue sky laws.

Similarly, some of our directors and officers are residents of countries other than Canada and all or a substantial portion of the assets of such persons are located outside Canada. As a result, it may be difficult for Canadian investors to initiate a lawsuit within Canada against these non-Canadian residents. In addition, it may not be possible for Canadian investors to collect from these non-Canadian residents judgments obtained in courts in Canada predicated on the civil liability provisions of securities legislation of certain of the provinces and territories of Canada. It may also be difficult for Canadian investors to succeed in a lawsuit in the United States, based solely on violations of Canadian securities laws.

Changes in tax laws and regulations or trade rules may impact our effective tax rate and may adversely affect our business, financial condition and operating results.

Changes in tax laws in any of the multiple jurisdictions in which we operate, or adverse outcomes from tax audits that we may be subject to in any of the jurisdictions in which we operate, could result in an unfavorable change in our effective tax rate, which could adversely

affect our business, financial condition and operating results. For example, the current U.S. policy has introduced greater uncertainty with respect to tax and trade policies, tariffs and government regulations affecting trade between the United States and other countries. Major developments in tax policy or trade relations could have a material adverse effect on our growth opportunities, business and results of operations.

There could be adverse tax consequence for our shareholders in the United States if we are a passive foreign investment company.

Under United States federal income tax laws, if a company is, or for any past period was, a passive foreign investment company (“PFIC”) it could have adverse United States federal income tax consequences to U.S. shareholders even if the company is no longer a PFIC. The determination of whether we are a PFIC is a factual determination made annually based on all the facts and circumstances and thus is subject to change, and the principles and methodology used in determining whether a company is a PFIC are subject to interpretation. We do not believe that we currently are or have been a PFIC, and we do not expect to be a PFIC in the future, but we cannot assure you that we will not be a PFIC in the future. United States holders of our subordinate voting shares are urged to consult their tax advisors concerning United States federal income tax consequences of holding our subordinate voting shares if we are considered to be a PFIC.

If we are a PFIC, U.S. holders would be subject to adverse U.S. federal income tax consequences, such as ineligibility for any preferred tax rates on capital gains or on actual or deemed dividends, interest charges on certain taxes treated as deferred, and additional reporting requirements under U.S. federal income tax laws or regulations. Whether or not U.S. holders make a timely qualified electing fund (“QEF”) election or mark-to-market election may affect the U.S. federal income tax consequences to U.S. holders with respect to the acquisition, ownership and disposition of our subordinate voting shares and certain distributions such U.S. holders may receive. Investors should consult their own tax advisors regarding all aspects of the application of the PFIC rules to our subordinate voting shares.

Canada Goose Holdings Inc. is a holding company with no operations of its own and, as such, it depends on its subsidiary for cash to fund its operations and expenses, including future dividend payments, if any.

As a holding company, our principal source of cash flow is distributions from our main operating subsidiary, Canada Goose Inc. Therefore, our ability to fund and conduct our business, service our debt and pay dividends, if any, in the future will depend on the ability of our subsidiary to generate sufficient cash flow to make upstream cash distributions to us. Our subsidiary is a separate legal entity, and although it is wholly-owned and controlled by us, it has no obligation to make any funds available to us, whether in the form of loans, dividends or otherwise. The ability of our subsidiary to distribute cash to us will also be subject to, among other things, restrictions that may be contained in our subsidiary agreements (as entered into from time to time), availability of sufficient funds in such subsidiary and applicable laws and regulatory restrictions. Claims of any creditors of our subsidiary generally will have priority as to the assets of such subsidiary over our claims and claims of our creditors and shareholders. To the extent the ability of our subsidiary to distribute dividends or other payments to us is limited in any way, our ability to fund and conduct our business, service our debt and pay dividends, if any, could be harmed.

If securities or industry analysts cease publishing research or reports about us, our business or our market, or if they change their recommendations regarding our subordinate voting shares adversely, the price and trading volume of our subordinate voting shares could decline.

The trading market for our subordinate voting shares is influenced by the research and reports that industry or securities analysts publish about us, our business, our market or our competitors. If any of the analysts who cover us or may cover us in the future change their recommendation regarding our subordinate voting shares adversely, or provide more favorable relative recommendations about our competitors, the price of our subordinate voting shares may decline. If any analyst who covers us or may cover us in the future were to cease coverage of our company or fail to regularly publish reports on us, we could lose visibility in the financial markets, which in turn could cause the price or trading volume of our subordinate voting shares to decline.

Our constating documents permit us to issue an unlimited number of subordinate voting shares and multiple voting shares without additional shareholder approval.

We may, from time to time, issue additional subordinate voting shares in the future. Subject to the requirements of the NYSE and the TSX, we will not be required to obtain the approval of shareholders for the issuance of additional subordinate voting shares. Although the rules of the TSX generally prohibit us from issuing additional multiple voting shares, there may be certain circumstances where additional multiple voting shares may be issued, including upon receiving shareholder approval. Any further issuances of subordinate voting shares or multiple voting shares will result in immediate dilution to existing shareholders and may have an adverse effect on the value of their shareholdings. Additionally, any further issuances of multiple voting shares may significantly lessen the combined voting power of our subordinate voting shares due to the 10-to-1 voting ratio between our multiple voting shares and subordinate voting shares.

A. History and Overview

Founded in 1957 in a small warehouse in Toronto, Canada, Canada Goose is a lifestyle brand and a leading manufacturer of outerwear and apparel. Every collection is informed by the rugged demands of the Arctic, ensuring a legacy of functionality is embedded in every product from parkas and rainwear to apparel and accessories. Canada Goose is inspired by relentless innovation and uncompromised craftsmanship, recognized as a leader for its Made in Canada commitment.

Across all channels, Canada Goose is sold in 64 countries as of April 3, 2022. During our Fall / Winter 2021 season, we sold through over 1,800 wholesale points of distribution.

In December 2013, we partnered with Bain Capital through a sale of a 70% equity interest in our business (the “Acquisition”). In connection with such sale, Canada Goose Holdings Inc. was incorporated under the Business Corporations Act (British Columbia) (the “BCBCA”) on November 21, 2013. The initial public offering of our subordinate voting shares in the United States and Canada was completed on March 21, 2017.

In November 2018, we acquired the business of Baffin Inc. (“Baffin”), a Canadian designer and manufacturer of performance outdoor and industrial footwear. Field-tested and trusted in extreme cold weather conditions, Baffin products are predominantly sold through distributors and retailers in Canada and the United States. As a wholly-owned subsidiary, Baffin is managed and operated on a stand-alone basis, with distinct products, sales channels, and customers.

In 2020, Canada Goose announced HUMANATURE, its purpose platform that unites its sustainability and values-based initiatives.

Our principal office is located at 250 Bowie Avenue, Toronto, Ontario, Canada, M6E 4Y2 and our telephone number is (416) 780-9850. Our registered office is located at Suite 1700, Park Place, 666 Burrard Street, Vancouver, British Columbia, Canada, V6C 2X8. Our website address is www.canadagoose.com. Information contained on, or accessible through, our website is not a part of this Annual Report and the inclusion of our website address in this Annual Report is an inactive textual reference. The SEC maintains a website at www.sec.gov that contains reports, proxy and information statements, and other information regarding registrants that make electronic filings with the SEC using its EDGAR system. Corporation Service Company, located at 251 Little Falls Drive, Wilmington, Delaware, is the company’s agent for service of process in the United States.

B.    Growth Strategies

Our long-term growth strategy is based on the following four pillars:

Drive DTC mix higher. Since opening our first e-Commerce site in Canada in August of 2014, annual DTC revenue has grown to $740.4m in fiscal 2022, which represents 67.4% of total revenue. DTC allows us to consistently reach consumers how and where they want to shop, through complementary digital and retail experiences, while building deeper relationships and realizing higher margins. We intend to continue expanding our retail stores and e-Commerce operations globally, while also growing revenue from established distribution.

Increase penetration globally. While maintaining a focus in Canada, we plan to continue driving a higher percentage of total revenue internationally. We believe that we have large long-term opportunities in the United States, EMEA and Asia Pacific. We have significantly advanced the size of our business in these regions in recent years, and we plan to build on this momentum through further market development and distribution expansion. As of April 4, 2022, we completed a joint venture in Japan with our long-term partner, Sazaby League, Ltd., to expand our business in Japan. The joint venture entity, Canada Goose Japan, will be the exclusive distributor of our products in Japan through a national e-Commerce site and retail and wholesale points of distribution across the country. In addition, to expand our business in Korea, we have entered into a new distribution agreement with Lotte GFR (“Lotte”) pursuant to which Lotte shall be the exclusive distributor of our products through the e-Commerce, retail and wholesale channels in Korea. In fiscal 2022, 80.0% of our revenue was generated outside of Canada and 52.4% outside of North America.

Enhance product offering. As a product-led, function-first brand we will continue to evolve and expand our offering across styles, uses and climates. Giving people new ways to experience Canada Goose drives higher penetration and expands our geographic appeal. While continuing to grow our outerwear business, we are building out adjacent offerings including rainwear, windwear, knitwear, fleece, footwear and accessories.

Expand margins. As we scale our business, we plan to continue leveraging our brand and business model to drive higher margins. As our DTC mix further increases, we expect to capture incremental gross margin on a consolidated basis and realize higher operating margins. We also believe that we have a significant degree of pricing power with our products and we plan to continue optimizing our pricing to capture their full value with consumers.

Uncompromised craftsmanship begins with sourcing the right raw materials. We use premium fabrics and finishings that are built to last.

In fiscal 2022, we achieved certification under the Responsible Down Standard (“RDS”). The RDS is an international, voluntary program that monitors the chain of custody for certified materials and ensures that RDS down standards are maintained throughout the entire supply chain. The RDS respects the Five Freedoms of animal welfare, prohibits live-plucking or force-feeding in the supply chain, and stipulates that all down is a by-product of the poultry industry.

As of April 3, 2022, we operate eight Canada Goose manufacturing facilities in Toronto, Winnipeg and Greater Montreal, one warehouse facility in Winnipeg and one Baffin manufacturing facility in Stoney Creek, Ontario. We also work with 12 Canadian subcontractors and 14 international manufacturing partners who offer specialized expertise, which provides us with flexibility to scale our production and effectively offer a broader range of product categories. We have been recognized by the Government of Canada for supporting the apparel manufacturing industry in Canada.

We own the trademarks used in connection with the marketing, distribution and sale of all of our products in the United States, Canada and in the other countries in which our products are sold. Our major trademarks include the CANADA GOOSE word mark and the ARCTIC PROGRAM & DESIGN trademark (our disc logo consisting of the colour-inverse design of the North Pole and Arctic Ocean). In addition to the registrations in Canada and the United States, our word mark and design are registered in other jurisdictions which cover approximately 65 countries. Furthermore, in certain jurisdictions we register as trademarks certain elements of our products, such as fabric, warmth categorization and style names such as our Snow Mantra parka.

We enforce our trademarks and we have taken several measures to protect our customers from counterfeiting activities. Since 2011, we have sewn a unique hologram, designed exclusively for us, into every jacket and accessory as proof of authenticity. Additionally, our website has a tool for potential online customers to verify the integrity of third party retailers that purport to sell our products. We are also active in enforcing rights on a global basis to our trademarks and taking action against counterfeiters, online and in physical stores.

Our business is seasonal in nature. See Item 5.A - “Operating and Financial Review and Prospects” - “Management’s Discussion and Analysis of Financial Results” - “Factors Affecting our Performance” - “Seasonality” and Item 3.D - “Risk Factors” - “Risks Related to our Business” for a discussion.

In Canada and in the other jurisdictions in which we operate, we are subject to labour and employment laws, laws governing advertising, privacy and data security laws, safety regulations and other laws, including consumer protection regulations that apply to retailers and/or the promotion and sale of merchandise and the operation of stores and warehouse facilities. Our products sold outside of Canada are subject to tariffs, treaties and various trade agreements as well as laws affecting the importation of consumer goods. We monitor changes in these laws, regulations, treaties and agreements, and believe that we are in material compliance with applicable laws.

We maintain leased facilities for our corporate headquarters and to conduct our principal manufacturing and retail activities, which we believe are in good condition and working order.

As of April 3, 2022, we lease 61 properties globally, which is comprised of (i) 41 permanent and two temporary directly operated retail stores around the world, (ii) eight offices (two in Switzerland, three in Greater China, one in the United States and two in Canada, being our current office, showroom and manufacturing facility (the “Bowie Facility”) and our future head office location), (iii) eight additional manufacturing facilities in Canada (in addition to the Bowie Facility and including one manufacturing facility for Baffin), (iv) one warehouse facility in Canada and (v) one distribution centre in the United States. Our manufacturing and warehouse properties range in size from 50,000 to 170,000 square feet. We also occupy inventory space in the warehouses of several third party logistics providers in all of our primary regions.

ITEM 4A. UNRESOLVED STAFF COMMENTS

ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS

CANADA GOOSE HOLDINGS INC.

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

For the fourth quarter and year ended April 3, 2022

The following Management’s Discussion and Analysis (“MD&A”) for Canada Goose Holdings Inc. (“us,” “we,” “our,” “Canada Goose” or the “Company”) is dated May 18, 2022 and provides information concerning our results of operations and financial condition for the fourth quarter and year ended April 3, 2022 (“fiscal 2022”). You should read this MD&A together with our audited consolidated financial statements and the related notes for the year ended April 3, 2022 (“Annual Financial Statements”). Additional information about Canada Goose is available on our website at www.canadagoose.com, on the SEDAR website at www.sedar.com, and on the EDGAR section of the U.S. Securities and Exchange Commission (the “SEC”) website at www.sec.gov, including this Annual Report on Form 20-F.

CAUTIONARY NOTE REGARDING FORWARD‑LOOKING STATEMENTS

This MD&A contains forward-looking statements. These statements are neither historical facts nor assurances of future performance. Instead, they are based on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, and other future conditions. Forward-looking statements can be identified by words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “predict,” “project,” “target,” “potential,” “will,” “would,” “could,” “should,” “continue,” and other similar expressions, although not all forward-looking statements contain these identifying words. These forward-looking statements include all matters that are not historical facts. They appear in many places throughout this MD&A and include statements regarding our intentions, beliefs or current expectations concerning, among other things, our results of operations, financial condition, liquidity, business prospects, growth, strategies, expectations regarding industry trends and the size and growth rates of addressable markets, our business plan and our growth strategies, including plans for expansion to new markets and new products, expectations for seasonal trends, and the industry in which we operate.

Certain assumptions made in preparing the forward-looking statements contained in this MD&A include:

•our ability to continue operating our business amid the societal, political and economic disruption caused by the novel coronavirus pandemic (“COVID-19”) and recent and ongoing geopolitical events;

•our ability to implement our growth strategies;

•our ability to maintain strong business relationships with our customers, suppliers, wholesalers, and distributors;

•our ability to keep pace with changing consumer preferences;

•our ability to protect our intellectual property; and

•the absence of material adverse changes in our industry or the global economy.

By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. We believe that these risks and uncertainties include, but are not limited to, those described in the “Risk Factors” section of our Annual Report and other risk factors described herein, which include, but are not limited to, the following risks:

•risks and global disruptions associated with the ongoing COVID-19 pandemic and geopolitical events, which may further affect general economic and operating conditions;

•additional potential closures or retail traffic disruptions impacting our retail stores and the retail stores of our wholesale partners as a result of COVID-19;

•we may not open new retail stores or expand e-Commerce access on our planned timelines;

•we may be unable to maintain the strength of our brand or to expand our brand to new products and geographies;

•unanticipated changes in the effective tax rate or adverse outcomes from audit examinations of corporate income or other tax returns;

•our indebtedness may adversely affect our financial condition;

•an economic downturn and general economic conditions (for example, inflation and rising interest rates) may further affect discretionary consumer spending;

•we may not be able to satisfy changing consumer preferences;

•global political events, including the impact of political disruptions and protests, which may cause business interruptions;

•our ability to procure high quality raw materials and certain finished goods globally;

•our ability to forecast our inventory need and to manage our product distribution networks;

•we may not be able to protect or preserve our brand image and proprietary rights;

•the success of our business strategy;

•our ability to manage our exposure to data security and cyber security events;

•fluctuations in raw material costs, interest rates and currency exchange rates; and

•we may be unable to maintain effective internal controls over financial reporting.

Although we base the forward-looking statements contained in this MD&A on assumptions that we believe are reasonable, we caution you that actual results and developments (including our results of operations, financial condition and liquidity, and the development of the industry in which we operate) may differ materially from those made in or suggested by the forward-looking statements contained in this MD&A. Additional impacts may arise that we are not aware of currently. The potential of such additional impacts intensifies the business and operating risks which we face, and these should be considered when reading the forward-looking statements contained in this MD&A. In addition, even if results and developments are consistent with the forward-looking statements contained in this MD&A, those results and developments may not be indicative of results or developments in subsequent periods. As a result, any or all of our forward-looking statements in this MD&A may prove to be inaccurate. No forward-looking statement is a guarantee of future results. Moreover, we operate in a highly competitive and rapidly changing environment in which new risks often emerge. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or

the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make.

You should read this MD&A and the documents that we reference herein completely and with the understanding that our actual future results may be materially different from what we expect. The forward-looking statements contained herein are made as of the date of this MD&A, and we do not assume any obligation to update any forward-looking statements except as required by applicable laws.

BASIS OF PRESENTATION

The Annual Financial Statements are prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”), and are presented in millions of Canadian dollars, except where otherwise indicated. Certain financial measures contained in this MD&A are non-IFRS financial measures and are discussed further under “Non-IFRS Financial Measures and Other Specified Financial Measures” below.

The Annual Financial Statements and the accompanying notes have been prepared using the accounting policies described in note 2 to the Annual Financial Statements. The Company adopted a change in accounting policy on the treatment of implementation costs related to Software as a Service (“SaaS”) arrangements as described in note 4 to the Annual Financial Statements. See “Changes in Accounting Policies” for a description of the impact from adopting the agenda decision.

All references to “$”, “CAD” and “dollars” refer to Canadian dollars, “USD” and “US$” refer to U.S. dollars, “GBP” refer to British pounds sterling, “EUR” refer to euros, “CHF” refer to Swiss francs, “CNY” refer to Chinese yuan, ”RMB” refer to Chinese renminbi and “HKD” refer to Hong Kong dollars unless otherwise indicated. Certain totals, subtotals and percentages throughout this MD&A may not reconcile due to rounding. This MD&A and the accompanying Annual Financial Statements are presented in millions of Canadian dollars.

The Company’s fiscal year is a 52 or 53-week reporting cycle with the fiscal year ending on the Sunday closest to March 31. Each fiscal quarter is 13 weeks for a 52-week fiscal year. The additional week in a 53-week fiscal year is added to the third quarter. Fiscal 2022 is the first 53-week fiscal year, ending on April 3, 2022, and the additional week was added to the third quarter ended January 2, 2022.

All references to “fiscal 2019” are to the Company’s fiscal year ended March 31, 2019; to “fiscal 2020” are to the Company’s fiscal year ended March 29, 2020; “fiscal 2021” are to the Company’s fiscal year ended March 28, 2021; and to “fiscal 2022” are to the Company’s fiscal year ending April 3, 2022.

Certain comparative figures have been reclassified to conform with the current year presentation. Depreciation and amortization for amounts not included in costs of goods sold, which were previously presented in a separate line item, are reflected in the presentation of selling, general & administrative (“SG&A”) expenses.

The following table summarizes results of operations for the years ended April 3, 2022, March 28, 2021 and March 29, 2020 and the fourth quarters ended April 3, 2022 and March 28, 2021, and expresses the percentage relationship to revenues of certain financial statement captions. See “Results of Operations” for additional details and for the comparison discussions between the years ended April 3, 2022 and March 28, 2021.

For the comparison discussions between the years ended March 28, 2021 and March 29, 2020, please refer to Item 5. “Operating and Financial Review and Prospects” of our Annual Report on Form 20-F for the year ended March 28, 2021, filed with the SEC on May 13, 2021, which is hereby incorporated herein by reference.

CAD $ millions (except per share data)			For the year ended												Fourth quarter ended
			April 3, 2022			March 28, 2021(2)			March 29, 2020(2)						April 3, 2022			March 28, 2021(2)
Statement of Operations data:
Revenue			1,098.4			903.7			958.1						223.1			208.8
Gross profit			733.6			554.0			593.3						154.1			138.6
Gross margin			66.8		%	61.3		%	61.9		%				69.1		%	66.4		%
Operating income			156.7			117.0			187.1						0.9			7.2
Net income (loss)			94.6			70.3			148.0						(9.1)			2.5
Earnings (loss) per share
Basic			$	0.87		$	0.64		$	1.35					$	(0.09)		$	0.02
Diluted			$	0.87		$	0.63		$	1.33					$	(0.09)		$	0.02
Non-IFRS Financial Measures:(1)
Adjusted EBIT			174.6			132.6			202.4						12.5			4.8
Adjusted EBIT margin			15.9		%	14.7		%	21.1		%				5.6		%	2.3		%
Adjusted net income			119.4			86.2			143.5						4.1			0.7
Adjusted net income per basic share			$	1.10		$	0.78		$	1.31					$	0.04		$	0.01
Adjusted net income per diluted share			$	1.09		$	0.78		$	1.29					$	0.04		$	0.01

CAD $ millions			April 3, 2022						March 28, 2021(2)						March 29, 2020(2)
Financial Position:
Cash			287.7						477.9						31.7
Net working capital (1)			255.4						202.1						327.1
Total assets			1,340.6						1,478.5						1,090.7
Total non-current liabilities			631.2						638.8						384.5
Shareholders' equity			427.9						577.6						497.3

(1)See “Non-IFRS Financial Measures and Other Specified Financial Measures” for a description of these measures and a reconciliation to the nearest IFRS measure.

(2)The Company adopted a change in accounting policy on the treatment of implementation costs related to Software as a Service (“SaaS”) arrangements. See “Changes in Accounting Policies” for a description of the impact from adopting the agenda decision and the impact of retrospective application.

Segments

Our reporting segments align with our sales channels: Direct-to-Consumer (“DTC”), Wholesale, and Other. We measure each reportable operating segment’s performance based on revenue and operating income. As at April 3, 2022, our DTC segment includes sales to customers through our 56 national e-Commerce markets and 41 directly operated permanent retail stores across North America, Europe, and Asia Pacific. Through our Wholesale segment, we sell to a mix of retailers and international distributors. The Other segment comprises sales and costs not directly allocated to the DTC or Wholesale segments, such as sales to employees and SG&A expenses.

Factors Affecting our Performance

We believe that our performance depends on many factors including those discussed below.

•Growth in our DTC Channel. We plan to continue executing our global strategy through retail and e-Commerce expansion, though the scale of such expansion may be delayed due to current global conditions.

•COVID-19 pandemic. COVID-19 continues to impact the global economy and public health officials have imposed restrictions and recommended precautions to mitigate the spread of the virus. These measures have resulted in temporary closures of our retail locations as well as reduced traffic and store productivity, similarly impacting our wholesale partners. Store operations have largely resumed over fiscal 2022 across our global store network, however 5 of our 41 stores continue to remain closed globally and retail store traffic remains below pre-pandemic levels as at April 3, 2022. As a result of slower than expected return of international retail traffic and limited time remaining on existing leases, the Company recorded $1.6m of impairment losses on fixed assets and $6.1m of impairment losses on right-of-use assets in respect of two retail stores in the DTC operating segment for the year ended April 3, 2022. The impairment losses were recorded as part of SG&A expenses.

Global supply chain disruptions continue from the ongoing challenges related to COVID-19, however these disruptions have not materially impacted our ability to fulfill demand and maintain sufficient inventory levels. While such costs have not been material to results of operations for the year ended April 3, 2022, we continue to anticipate and monitor escalating costs based both on freight constraints and required speed to stage inventory or deliver to consumers. All of our manufacturing facilities were operating throughout the fourth quarter and year ended April 3, 2022 at lower than pre-pandemic output levels to ensure appropriate distancing measures were in place. We expect to return to more normal levels of production as restrictions and recommended precautions are lifted.

We received rent concessions in the form of abatements and deferrals and rent concessions of $0.6m were recognized in the statement of income for the year ended April 3, 2022 (for the year ended March 28, 2021 - $4.1m).

Future developments relating to COVID-19 are highly uncertain and out of our control. Restrictions and recommended precautions related to the Omicron variant have been weighing on and may continue to weigh on ongoing demand improvement. Prolonged disruptions due to the pandemic, including the emergence of the new COVID-19 variants and mutations, may negatively impact our operations and result in temporary closures of our retail stores and manufacturing facilities, as well as our wholesale partners, lower retail store traffic, and impacts on our supply chain.

•Global political events and other disruptions. We are conscious of risks related to social, economic, and political instability, including geopolitical tensions, regulatory matters, market volatility, and social unrest that are affecting consumer spending in certain countries and travel corridors. We have been, and may in the future be, impacted by widespread protests

and other disruptions. To the extent that such disruptions persist, we expect that operations and traffic at our retail stores may be impacted. We remain concerned about the conflict in Ukraine and impact on human life for those affected. In this quarter we announced that we have suspended all wholesale and e-Commerce sales to Russia, which represented less than 1% of total annual revenue in fiscal 2022.

•New Products. We intend to continue investing in innovation and the development and introduction of new products across styles, uses, and climates. This includes Canada Goose footwear and Baffin branded footwear through Baffin’s own distinct sales channels. We expect that certain new products may carry a lower gross margin per unit relative to our long-standing styles which are produced in significantly higher volumes.

•Seasonality. We experience seasonal fluctuations in our revenue and operating results and have historically realized a significant portion of our annual wholesale revenue during our second and third fiscal quarters, and our annual DTC revenue in our third and fourth fiscal quarters. We generated 82.4%, 86.8% and 85.7% of our annual wholesale revenue in the combined second and third fiscal quarters of fiscal 2022, fiscal 2021, and fiscal 2020, respectively. Additionally, we generated 85.0%, 89.3% and 79.2% of our annual DTC revenue in the combined third and fourth fiscal quarters of fiscal 2022, fiscal 2021, and fiscal 2020, respectively. Because of seasonal fluctuations in revenue and fixed costs associated with our business, particularly the headcount growth and premises costs associated with our expanding DTC channel, we typically experience negative and substantially reduced net income and adjusted EBIT(1) in the first and fourth quarters, respectively. As a result of our seasonality, changes that impact gross margin and adjusted EBIT(1) among others can have a disproportionate impact on the quarterly results when they are recorded in our off-peak revenue periods. The year ended April 3, 2022 is a 53-week year and as a result an additional week in our peak period was added to the third fiscal quarter. This resulted in further accentuation of quarterly seasonal trends. See “Basis of Presentation”.

(1)    Adjusted EBIT is a non-IFRS measure. See “Non-IFRS Financial Measures and Other Specified Financial Measures” for a description of these measures.

Guided by expected demand and wholesale orders, we typically manufacture on a linear basis throughout the fiscal year. Net working capital requirements typically increase as inventory builds. We finance these needs through a combination of cash on hand and borrowings on the Revolving Facility (as defined below) and the Mainland China Facilities (as defined below). Historically, cash flows from operations have been highest in the third and fourth fiscal quarters of the fiscal year due to revenue from the DTC channel and the collection of receivables from wholesale revenue earlier in the year.

•Developments in international trade. We continue to monitor the impact on our operations in Europe as a result of the United Kingdom’s exit from the European Union (“Brexit”). We continue to build flexibility within our supply chain and leverage partners and technical resources to utilize duty savings under various Free Trade Agreements. Duty savings continue for U.S. shipments under the United States-Mexico-Canada Agreement. We monitor developments in international trade in countries where we operate that could have an impact on our business.

•Foreign Exchange. We sell a significant portion of our products to customers outside of Canada, which exposes us to fluctuations in foreign currency exchange rates. In fiscal years 2022, 2021, and 2020, we generated 72.5%, 67.9%, and 62.3%, respectively, of our revenue in currencies other than Canadian dollars. Historically, most of our wholesale revenue was derived from orders made prior to the beginning of the fiscal year. This high degree of visibility into our anticipated future cash flows from wholesale operations is now significantly less certain given the COVID-19 disruptions. Most of our raw materials are sourced outside

of Canada, primarily in U.S. dollars, and SG&A expenses are typically denominated in the currency of the country in which they are incurred. As part of our risk management program, we have entered into foreign exchange derivative contracts to manage certain of our exposures to exchange rate fluctuations for future foreign currency transactions, which is intended to reduce the variability of our operating costs and future cash flows denominated in local currencies. We continue to monitor our risk management program to take into account the prevailing global uncertainty of COVID-19.

We are exposed to translation and transaction risks associated with foreign currency exchange fluctuations on the Chinese renminbi denominated principal and interest amounts payable on the Mainland China Facilities and U.S. dollar denominated principal and interest amounts payable on our Revolving Facility and the Term Loan Facility (as defined below). The Company has entered into foreign exchange cross-currency swap and forward contracts to hedge a portion of the exposure to foreign currency exchange and interest rate risk on the principal amount of the Term Loan Facility. See “Quantitative and Qualitative Disclosures about Market Risk - Foreign Exchange Risk” below.

The main foreign currency exchange rates that impact our business and operations as at and for the year ended April 3, 2022 and for the year ended March 28, 2021 are summarized below:

			Foreign currency exchange rate to $1.00 CAD
			Fiscal 2022
			Average Rate															Closing Rate
Currency			Q1			Q2			Q3			Q4			2022			April 3, 2022
USD/CAD			1.2280			1.2601			1.2600			1.2663			1.2536			1.2512
EUR/CAD			1.4804			1.4852			1.4409			1.4218			1.4571			1.3816
GBP/CAD			1.7170			1.7367			1.6991			1.6995			1.7131			1.6399
CHF/CAD			1.3485			1.3723			1.3669			1.3707			1.3646			1.3514
CNY/CAD			0.1902			0.1948			0.1971			0.1995			0.1954			0.1966
HKD/CAD			0.1581			0.1620			0.1618			0.1622			0.1610			0.1597

			Foreign currency exchange rate to $1.00 CAD
			Fiscal 2021
			Average Rate															Closing Rate
Currency			Q1			Q2			Q3			Q4			2021			March 28, 2021
USD/CAD			1.3859			1.3316			1.3030			1.2666			1.3218			1.2580
EUR/CAD			1.5256			1.5579			1.5537			1.5267			1.5410			1.4831
GBP/CAD			1.7203			1.7212			1.7207			1.7461			1.7271			1.7345
CHF/CAD			1.4378			1.4486			1.4417			1.4003			1.4321			1.3384
CNY/CAD			0.1955			0.1926			0.1967			0.1955			0.1951			0.1923
HKD/CAD			0.1788			0.1718			0.1681			0.1633			0.1705			0.1619

DTC revenue consists of sales through our e-Commerce operations and retail stores. DTC revenue is recognized upon delivery of the goods to the customer and when consideration is received, net of an estimated provision for sales returns.

Wholesale revenue comprises sales to third party resellers, which includes retailers and distributors of our products. Wholesale revenue from the sale of goods, net of an estimated provision for sales returns, discounts, and allowances, is recognized when control of the goods has been transferred to the reseller, which, depending on the terms of the agreement with the reseller, occurs when the products have been shipped to the reseller, are picked up from our third party warehouse, or arrive at the reseller’s facilities.

Other revenue comprises sales not directly allocated to the DTC or Wholesale segments, including sales to employees and comparative period sales of personal protective equipment (“PPE”) to federal, provincial, and local health authorities.

Gross Profit

Gross profit is our revenue less cost of sales. Cost of sales comprises the cost of manufacturing our products and goods purchased from other manufacturers, including raw materials, direct labour, and overhead, plus freight, duties, and non-refundable taxes incurred in delivering the goods to distribution centres managed by third parties or to our retail stores. Product development costs, primarily employee salaries and benefits, included in inventories and intangible assets are being recognized in cost of sales accordingly. Beginning in fiscal 2021, incurred product development costs, primarily employee salaries and benefits, are recognized in SG&A expenses. Cost of sales also includes depreciation on our manufacturing right-of-use assets and plant assets as well as inventory provisions, and allowances related to obsolescence and shrinkage. The primary drivers of our cost of sales are the costs of raw materials (which are sourced in both Canadian dollars and U.S. dollars), manufacturing labour rates, and the allocation of overhead. Gross margin measures our gross profit as a percentage of revenue.

SG&A expenses consist of selling costs to support our customer relationships and to deliver our products to our e-Commerce customers, retail stores, and wholesale partners. It also includes our marketing and brand investment activities and the corporate infrastructure required to support our ongoing operations, as well as depreciation and amortization. Foreign exchange gains and losses are recorded in SG&A expenses and comprise the translation of assets and liabilities denominated in currencies other than the functional currency of the Company or its subsidiaries, including cash balances, a portion of our Revolving Facility, the Term Loan Facility, the Mainland China Facilities, mark-to-market adjustments on derivative contracts, gains or losses associated with our term loan hedges, and realized gains on settlement of foreign currency denominated assets and liabilities.

Selling costs, other than headcount-related costs, generally correlate to revenue timing and previous to fiscal 2021, would typically experience similar seasonal trends. As a percentage of sales, we expect these selling costs to change as our business evolves. This change has been and is expected to be primarily driven by the expansion of our DTC segment, including the investment required to support e-Commerce sites and retail stores. Retail store costs are mostly fixed and are incurred throughout the year.

General and administrative expenses represent costs incurred in our corporate offices, primarily related to marketing, personnel costs (including salaries, variable incentive compensation, benefits, and share-based compensation), technology support, and other professional service

costs. We have invested considerably in this area to support the growing volume and complexity of our business and anticipate continuing to do so in the future. Beginning in fiscal 2021, incurred product development costs, primarily employee salaries and benefits, are recognized in SG&A expenses.

Depreciation and amortization represent the economic benefit incurred in using the Company’s property, plant and equipment, intangible assets, and right-of-use assets. We expect depreciation and amortization to increase, primarily driven by the expansion of our DTC segment and information technology-related expenditures to support growth.

Operating Income

Operating income is our gross profit less SG&A expenses. Operating margin measures our operating income as a percentage of revenue.

Net interest, finance and other costs represents interest expense on our borrowings including the Revolving Facility, the Term Loan Facility, the Mainland China Facilities, and lease liabilities, as well as standby fees, net of interest income. In addition, corporate restructuring costs have been recognized in fiscal 2021.

Income Taxes

We are subject to income taxes in the jurisdictions in which we operate and, consequently, income tax expense is a function of the allocation of taxable income by jurisdiction and the various activities that impact the timing of taxable events.

For the year ended April 3, 2022 compared to the year ended March 28, 2021

The following table summarizes results of operations and expresses the percentage relationship to revenue of certain financial statement captions. Basis points (“bps”) expresses the changes between percentages.

CAD $ millions (except share and per share data)			For the year ended												$ Change						% Change
			April 3, 2022						March 28, 2021(2)
Statement of Income data:
Revenue			1,098.4						903.7						194.7						21.5		%
Cost of sales			364.8						349.7						(15.1)						(4.3)		%
Gross profit			733.6						554.0						179.6						32.4		%
Gross margin			66.8		%				61.3		%										550		bps
SG&A expenses			576.9						437.0						(139.9)						(32.0)		%
SG&A expenses as % of revenue			52.5		%				48.4		%										(410)		bps
Operating income			156.7						117.0						39.7						33.9		%
Operating margin			14.3		%				12.9		%										140		bps
Net interest, finance and other costs			39.0						30.9						(8.1)						(26.2)		%
Income before income taxes			117.7						86.1						31.6						36.7		%
Income tax expense			23.1						15.8						(7.3)						(46.2)		%
Effective tax rate			19.6		%				18.4		%										(120)		bps
Net income			94.6						70.3						24.3						34.6		%
Other comprehensive loss			(12.0)						(5.3)						(6.7)						(126.4)		%
Comprehensive income			82.6						65.0						17.6						27.1		%
Earnings per share
Basic			$	0.87					$	0.64					0.23						35.9		%
Diluted			$	0.87					$	0.63					0.24						38.1		%
Weighted average number of shares outstanding
Basic			108,296,802						110,261,600
Diluted			109,154,721						111,112,173
Non-IFRS Financial Measures:(1)
Adjusted EBIT			174.6						132.6						42.0						31.7		%
Adjusted EBIT margin			15.9		%				14.7		%										120		bps
Adjusted net income			119.4						86.2						33.2						38.5		%
Adjusted net income per basic share			$	1.10					$	0.78					0.32						41.0		%
Adjusted net income per diluted share			$	1.09					$	0.78					0.31						39.7		%

(1)See “Non-IFRS Financial Measures and Other Specified Financial Measures” for a description of these measures and a reconciliation to the nearest IFRS measure.

(2)The Company adopted a change in accounting policy on the treatment of implementation costs related to Software as a Service (“SaaS”) arrangements. See “Changes in Accounting Policies” for a description of the impact from adopting the agenda decision and the impact of retrospective application.

Revenue

Revenue for the year ended April 3, 2022 increased by $194.7m, or 21.5%, to $1,098.4m from $903.7m for the year ended March 28, 2021. Excluding $47.2m of temporary PPE sales in the comparative period, revenue increased by $241.9m or 28.2%. On a constant currency(1) basis, revenue increased by 23.2% for the year ended April 3, 2022 compared to the year ended March 28, 2021. Revenue generated from our DTC channel represented 67.4% of total revenue for the year ended April 3, 2022 compared to 58.3% for the year ended March 28, 2021.

			For the year ended												$ Change																		% Change
CAD $ millions			April 3, 2022						March 28, 2021						As reported						Foreign exchange impact						In constant currency(1)						As reported						In constant currency
DTC			740.4						527.2						213.2						7.0						220.2						40.4		%				41.8		%
Wholesale			348.5						322.2						26.3						8.2						34.5						8.2		%				10.7		%
Other			9.5						54.3						(44.8)						—						(44.8)						(82.5)		%				(82.5)		%
Total revenue			1,098.4						903.7						194.7						15.2						209.9						21.5		%				23.2		%

(1)Constant currency revenue is a non-IFRS financial measure. See “Non-IFRS Financial Measures and Other Specified Financial Measures” for a description of this measure.

Impact of 53-Week Year on Revenue

The Company’s fiscal year is a 52 or 53-week reporting cycle with the fiscal year ending on the Sunday closest to March 31. Each fiscal quarter is 13 weeks for a 52-week fiscal year. The additional week in a 53-week fiscal year is added to the third quarter. Fiscal 2022 was our first 53-week fiscal year, ending on April 3, 2022, and the additional week was added to the third quarter ended January 2, 2022. The additional week in the third quarter in fiscal 2022, which is during our peak season, had a significant impact on revenue in the third and fourth quarter of fiscal 2022, as in the comparative period, the additional week was included in the fourth quarter, and the final week in the fourth quarter was included in the subsequent fiscal year. The additional week included in the reported results for the third quarter generated $40.9m in revenue and the final week in the fourth quarter generated $5.5m in revenue.

To explain the impact of the additional week, and to facilitate comparison with the results for the year ended March 28, 2021 over a similar calendar period, the below presents revenue for the year ended April 3, 2022 on the basis of excluding the final week of the fourth quarter ended April 3, 2022 (“53rd Week”).

			For the year ended																								Change
CAD $ millions			April 3, 2022						53rd Week						April 3, 2022 excluding 53rd Week						March 28, 2021						$ Change						% Change
DTC			740.4						(4.7)						735.7						527.2						208.5						39.5		%
Wholesale			348.5						(0.7)						347.8						322.2						25.6						7.9		%
Other			9.5						(0.1)						9.4						54.3						(44.9)						(82.7)		%
Total revenue			1,098.4						(5.5)						1,092.9						903.7						189.2						20.9		%

DTC

Revenue from our DTC segment for the year ended April 3, 2022 was $740.4m compared to $527.2m for the year ended March 28, 2021. The increase of $213.2m or 40.4% was attributable to higher revenue from existing retail stores, complemented by e-Commerce growth of 15.9% and new retail expansion of the retail network. Excluding the 53rd Week, the increase in revenue was $208.5m or 39.5%.

Wholesale

Revenue from our Wholesale segment for the year ended April 3, 2022 was $348.5m compared to $322.2m for the year ended March 28, 2021. The increase of $26.3m or 8.2% was attributable to an increase in orders globally relative to the comparative period.

Other

Revenue from our Other segment for the year ended April 3, 2022 was $9.5m compared to $54.3m for the year ended March 28, 2021. The decrease of $44.8m or (82.5)% was mainly attributable to $47.2m of PPE sales in the comparative period, which were temporarily manufactured in support of COVID-19 response efforts.

Revenue by geography

			For the year ended												$ Change																		% Change
CAD $ millions			April 3, 2022												March 28, 2021												As reported						Foreign exchange impact						In constant currency(2)						As reported						In constant currency(2)
Canada			219.2												217.7												1.5						—						1.5						0.7		%				0.7		%
United States			303.7												226.1												77.6						6.9						84.5						34.3		%				37.4		%
Asia Pacific			328.6												264.0												64.6						0.5						65.1						24.5		%				24.7		%
EMEA(1)			246.9												195.9												51.0						7.8						58.8						26.0		%				30.0		%
Total revenue			1,098.4												903.7												194.7						15.2						209.9						21.5		%				23.2		%

(1)EMEA comprises Europe, the Middle East, Africa, and Latin America.

(2)Constant currency revenue is a non-IFRS financial measure. See “Non-IFRS Financial Measures and Other Specified Financial Measures” for a description of this measure.

Revenue increased in all regions during the year ended April 3, 2022 compared to the comparative period resulting from an increase in both DTC and wholesale revenue. Revenue in Canada grew by 28.6% excluding the $47.2m of PPE sales made in the comparative period. Including PPE, revenue in Canada increased by 0.7%. The increase in revenue in all regions was attributable to higher revenues from existing retail stores, e-Commerce growth, retail store expansion, and wholesale growth.

Gross Profit

Gross profit and gross margin for the year ended April 3, 2022 were $733.6m and 66.8%, respectively, compared to $554.0m and 61.3%, respectively, for the year ended March 28, 2021. The increase in gross profit of $179.6m was attributable to higher revenue as noted above. Gross profit in the comparative period included the impact of $47.2m of non-recurring PPE sales, $13.5m of COVID-19 related government payroll subsidies, and $4.3m of manufacturing overhead costs during a period when production ceased due to COVID-19. Excluding the impact of these items, gross margin was 63.7% in the comparative period. Gross margin in the current period was favourably impacted by an increased proportion of DTC revenue from the comparative period, a lower proportion of sales to international distributors, and incremental benefits from pricing, which were partially offset by unfavourable impacts from product mix due to higher sales in non-parka categories, typically with lower margins.

			For the year ended
			April 3, 2022												March 28, 2021
CAD $ millions			Gross profit						Gross margin						Gross profit (loss)						Gross margin						$ Change						Change in bps
DTC			563.0						76.0		%				402.4						76.3		%				160.6						(30)		bps
Wholesale			166.5						47.8		%				152.4						47.3		%				14.1						50		bps
Other			4.1						43.2		%				(0.8)						(1.5)		%				4.9						—
Total gross profit			733.6						66.8		%				554.0						61.3		%				179.6						550		bps

DTC

Gross profit in our DTC segment was $563.0m for the year ended April 3, 2022 compared to $402.4m for the year ended March 28, 2021. The increase of $160.6m in gross profit was attributable to higher revenues. On a reported basis, including the benefit of government payroll subsidies in the prior period of 80 bps, gross margin declined by 30 bps compared to the comparative period. Hence, gross margin of 76.0% for the year ended April 3, 2022 represented an underlying increase of 50 bps when excluding non-recurring subsidies. During the year ended April 3, 2022, gross margin was favourably impacted by incremental benefits from pricing (+190 bps) which were partially offset by the increase in sales volumes in non-parka categories (-100 bps) and unfavourable region mix (-30 bps) from a higher proportion of sales in North America and EMEA.

Wholesale

Gross profit in our Wholesale segment was $166.5m for the year ended April 3, 2022 compared to $152.4m for the year ended March 28, 2021. The increase in gross profit of $14.1m was attributable to higher revenues. The gross margin was 47.8% for the year ended April 3, 2022, an increase of 50 bps compared to 47.3% in the comparative period. Excluding the prior year benefits from COVID-19 related government payroll subsidies (-230 bps), the gross margin in the comparative period was 45.0%. During the year ended April 3, 2022, the increase in gross margin was driven by incremental benefits from pricing (+380 bps) and by a higher proportion of sales to our wholesale partners compared to international distributors (+200 bps), which were partially offset by unfavourable impacts from product mix due to higher sales in non-parka categories (-310 bps).

Other

Gross profit in our Other segment was $4.1m for the year ended April 3, 2022 compared to gross loss of $0.8m for the year ended March 28, 2021, an increase of $4.9m. Gross profit in the prior year included $4.3m in overhead costs resulting from the temporary closure of our manufacturing facilities due to COVID-19 and $1.5m in gross profit related to the sale of PPE. The balance of the gross profit increase versus the comparative period is due to higher employee sales.

SG&A Expenses

SG&A expenses were $576.9m for the year ended April 3, 2022 compared to $437.0m for the year ended March 28, 2021. The increase in SG&A expenses of $139.9m or 32.0% was attributable to $47.1m in higher costs related to new stores including the amortization associated with leased premises accounted for as right-of-use assets, and the reopening of existing retail stores, $19.8m of incremental investment in marketing to assist with brand awareness, the launch of footwear and support our growth through our digital sales channels, $16.8m of incremental personnel costs, $11.1m in strategic initiatives including continuing

support of Canada Goose footwear, $6.4m related to e-Commerce volumes and infrastructure, and the loss of $13.6m of COVID-19 government payroll subsidies. As a result of slower than expected return of international retail traffic and limited time remaining on leases, we recorded $7.7m of impairment losses in respect of two retail stores.

			For the year ended
			April 3, 2022												March 28, 2021
CAD $ millions			Reported						% of segment revenue						Reported						% of segment revenue						$ Change						% Change
DTC			229.9						31.1		%				169.5						32.2		%				(60.4)						(35.6)		%
Wholesale			55.3						15.9		%				48.1						14.9		%				(7.2)						(15.0)		%
Other			291.7						—						219.4						—						(72.3)						(33.0)		%
Total SG&A expenses			576.9						52.5		%				437.0						48.4		%				(139.9)						(32.0)		%

Included in SG&A Expenses were Depreciation and Amortization expenses of $81.1m for the year ended April 3, 2022 compared to $62.6m for the year ended March 28, 2021, an increase of $18.5m or 29.6%. Of this increase, $16.8m was driven by continued retail expansion.

DTC

SG&A expenses in our DTC segment for the year ended April 3, 2022 were $229.9m, or 31.1% of segment revenue, compared to $169.5m, or 32.2% of segment revenue, for the year ended March 28, 2021. The increase of $60.4m or 35.6% was attributable to $47.1m of higher operating costs from a larger store network, the reopening of existing retail stores and the associated personnel costs. Additionally there were $6.4m of higher costs related to e-Commerce volumes and infrastructure. The comparative period also benefited from $3.2m of COVID-19 related government payroll subsidies which did not recur. Pre-store opening costs and COVID-19 related temporary store closure costs of $3.2m and $0.2m, respectively, were recognized in the year ended April 3, 2022 compared to pre-store opening costs and COVID-19 related temporary store closure costs of $5.2m and $7.6m, respectively, in the comparative period.

Included in SG&A Expenses were Depreciation and Amortization expenses of $70.3m for the year ended April 3, 2022 compared to $53.7m for the year ended March 28, 2021, an increase of $16.6m or 30.9%, which was largely driven by continued retail expansion. We recorded $1.6m of impairment losses on fixed assets and $6.1m of impairment losses on right-of-use assets as described above.

Wholesale

SG&A expenses in our Wholesale segment for the year ended April 3, 2022 were $55.3m compared to $48.1m for the year ended March 28, 2021. The increase of $7.2m or 15.0% was attributable to $3.2m of higher freight costs driven by incremental volume, $2.1m of service fees, and $2.6m of incremental warranty costs. The comparative period also benefited from $1.4m of COVID-19 related government payroll subsidies which did not recur.

Other

SG&A expenses in our Other segment, which include unallocated corporate expenses, were $291.7m for the year ended April 3, 2022 compared to $219.4m for the year ended March 28, 2021. The increase of $72.3m or 33.0% was attributable to $19.2m of incremental investment in marketing and $11.1m in strategic initiatives, $18.9m of incremental personnel costs due to headcount growth offset by $4.8m of lower performance-based compensation. The increase

was partially offset by $6.3m of favourable foreign exchange fluctuations related to working capital denominated in currencies other than Canadian dollars and the Term Loan Facility, net of hedge impacts. The comparable period also benefited from the $3.0m release of a non-cash sales contract provision as a result of the expiration of the statute of limitations in the respective jurisdiction and $9.0m of government payroll subsidies which did not recur.

Operating Income and Margin

Operating income and operating margin were $156.7m and 14.3% for the year ended April 3, 2022 compared to $117.0m and 12.9%, respectively, for the year ended March 28, 2021. The increase in operating income of $39.7m and operating margin of +140 bps was attributable to higher gross profit, partially offset by higher operating costs.

			For the year ended
			April 3, 2022												March 28, 2021
CAD $ millions			Operating income (loss)						Operating margin						Operating income (loss)						Operating margin						$ Change						Change in bps
Segment:
DTC			333.1						45.0		%				232.9						44.2		%				100.2						80		bps
Wholesale			111.2						31.9		%				104.3						32.4		%				6.9						(50)		bps
Other			(287.6)						—						(220.2)						—						(67.4)						—
Total operating income			156.7						14.3		%				117.0						12.9		%				39.7						140		bps

DTC

DTC segment operating income and operating margin were $333.1m and 45.0% for the year ended April 3, 2022 compared to $232.9m and 44.2% for the year ended March 28, 2021. Excluding impairment costs the operating margin was 46.0%. The increase in operating income of $100.2m and operating margin of +80 bps, respectively, were attributable to improved sales volumes from reduced COVID-19 impacts globally. This was partially offset by higher operating and personnel costs, as well as increased depreciation and amortization due to incremental new stores and increased overall store activity relative to the comparative period, and impairment losses. Pre-store opening costs and COVID-19 related temporary store closure costs of $3.2m and $0.2m, respectively, were recognized in the year ended April 3, 2022 compared to pre-store opening costs and COVID-19 related temporary store closure costs of $5.2m and $7.6m, respectively, in the comparative period.

Wholesale

Wholesale segment operating income and operating margin were $111.2m and 31.9% for the year ended April 3, 2022 compared to $104.3m and 32.4% for the year ended March 28, 2021. The increase in operating income of $6.9m was attributable to a higher segment revenue and gross profit, partially offset by higher SG&A expenses as discussed above.

Other

Other segment operating loss was $287.6m for the year ended April 3, 2022 compared to $220.2m for the year ended March 28, 2021. The increase in operating loss of $67.4m was attributable to $72.3m of higher SG&A expenses as discussed above, partially offset by $4.3m of overhead costs resulting from the temporary closure of our manufacturing facilities due to COVID-19 in the comparative period.

Net Interest, Finance and Other Costs

Net interest, finance and other costs were $39.0m for the year ended April 3, 2022 compared to $30.9m for the year ended March 28, 2021. The increase of $8.1m and 26.2% was driven by the acceleration of unamortized costs of $9.5m in connection with the Repricing Amendment (as defined below) on the Term Loan Facility and higher interest charges of $3.1m on the Term Loan Facility due to higher gross borrowings from the comparative period. The increase in net interest, finance and other costs was partially offset by lower interest charges of $1.3m on the Revolving Facility due to lower gross borrowings, corporate restructuring costs of $1.7m incurred in the comparative period, and $1.1m attributable to the acceleration of unamortized costs in connection with the Refinancing Amendment that took place in the comparative period.

Income Taxes

Income tax expense was $23.1m for the year ended April 3, 2022 compared to $15.8m for the year ended March 28, 2021. For the year ended April 3, 2022, the effective and statutory tax rates were 19.6% and 25.4%, respectively, compared to 18.4% and 25.4% for the year ended March 28, 2021, respectively. Given our global operations, the effective tax rate is largely impacted by our profit or loss in taxable jurisdictions relative to the applicable tax rates as well as the derecognition of deferred tax assets associated with tax relief from Swiss Tax Reform and non-capital losses in fiscal 2022.

Net Income

Net income for the year ended April 3, 2022 was $94.6m compared to $70.3m for the year ended March 28, 2021, driven by the factors described above.

The following table summarizes results of operations and expresses the percentage relationship to revenues of certain financial statement captions.

CAD $ millions (except share and per share data)			Fourth quarter ended												$ Change						% Change
			April 3, 2022						March 28, 2021(3)
Statement of (Loss) Income data:
Revenue			223.1						208.8						14.3						6.8		%
Cost of sales			69.0						70.2						1.2						1.7		%
Gross profit			154.1						138.6						15.5						11.2		%
Gross margin			69.1		%				66.4		%										270		bps
SG&A expenses			153.2						131.4						(21.8)						(16.6)		%
SG&A expenses as % of revenue			68.7		%				62.9		%										(580)		bps
Operating income			0.9						7.2						(6.3)						(87.5)		%
Operating margin			0.4		%				3.4		%										(300)		bps
Net interest, finance and other costs			7.0						8.2						1.2						14.6		%
Loss before income taxes			(6.1)						(1.0)						(5.1)						(510.0)		%
Income tax expense (recovery)			3.0						(3.5)						(6.5)						(185.7)		%
Effective tax rate			(49.2)		%				350.0		%										(39,920)		bps
Net (loss) income			(9.1)						2.5						(11.6)						(464.0)		%
Other comprehensive loss			(2.3)						(8.0)						5.7						71.3		%
Comprehensive loss			(11.4)						(5.5)						(5.9)						(107.3)		%
(Loss) earnings per share
Basic			$	(0.09)					$	0.02					$	(0.11)					(550.0)		%
Diluted			$	(0.09)					$	0.02					$	(0.11)					(550.0)		%
Weighted average number of shares outstanding
Basic			106,133,970						110,367,711
Diluted(1)			106,133,970						111,364,712
Non-IFRS Financial Measures:(2)
Adjusted EBIT			12.5						4.8						7.7						160.4		%
Adjusted EBIT margin			5.6		%				2.3		%										330		bps
Adjusted net income			4.1						0.7						3.4						485.7		%
Adjusted net income per basic share			$	0.04					$	0.01					$	0.03					300.0		%
Adjusted net income per diluted share			$	0.04					$	0.01					$	0.03					300.0		%

(1)Subordinate voting shares issuable on exercise of stock options are not treated as dilutive if including them would decrease the loss per share. Accordingly, 564,433 potentially dilutive shares have been excluded from the calculation of diluted loss per share for the fourth quarter ended April 3, 2022.

(2)See “Non-IFRS Financial Measures and Other Specified Financial Measures” for a description of these measures and a reconciliation to the nearest IFRS measure.

(3)The Company adopted a change in accounting policy on the treatment of implementation costs related to Software as a Service (“SaaS”) arrangements. See “Changes in Accounting Policies” for a description of the impact from adopting the agenda decision and the impact of retrospective application.

Revenue for the fourth quarter ended April 3, 2022 was $223.1m, an increase of $14.3m, or 6.8%, from $208.8m for the fourth quarter ended March 28, 2021. Revenue generated from our DTC channel represented 83.1% of total revenue for the fourth quarter ended April 3, 2022 compared to 82.2% for the fourth quarter ended March 28, 2021. On a constant currency(1) basis, revenue increased by 7.2% for the fourth quarter ended April 3, 2022 compared to the fourth quarter ended March 28, 2021.

			Fourth quarter ended												$ Change																		% Change
CAD $ millions			April 3, 2022						March 28, 2021						As reported						Foreign exchange impact						In constant currency(1)						As reported						In constant currency(1)
DTC			185.4						171.6						13.8						(0.5)						13.3						8.0		%				7.8		%
Wholesale			35.1						33.9						1.2						1.2						2.4						3.5		%				7.1		%
Other			2.6						3.3						(0.7)						—						(0.7)						(21.2)		%				(21.2)		%
Total revenue			223.1						208.8						14.3						0.7						15.0						6.8		%				7.2		%

(1)Constant currency revenue is a non-IFRS financial measure. See “Non-IFRS Financial Measures and Other Specified Financial Measures” for a description of these measures.

Impact of 53-Week Year on Revenue

The Company’s fiscal year is a 52 or 53-week reporting cycle with the fiscal year ending on the Sunday closest to March 31. Each fiscal quarter is 13 weeks for a 52-week fiscal year. The additional week in a 53-week fiscal year is added to the third quarter. Fiscal 2022 was our first 53-week fiscal year, ending on April 3, 2022, and the additional week was added to the third quarter ended January 2, 2022. The additional week in the third quarter in fiscal 2022, which is during our peak season, had a significant impact on revenue in the third and fourth quarter of fiscal 2022, as in the comparative period, the additional week was included in the fourth quarter, and the final week in the fourth quarter was included in the subsequent fiscal year. The additional week which was previously reported in the third quarter generated $40.9m in revenue and the final week in the fourth quarter generated $5.5m in revenue.

To explain the impact of the additional week, and to facilitate comparison with the results for the fourth quarter ended March 28, 2021 over a similar calendar period, the below presents revenue for the fourth quarter ended April 3, 2022 on the basis of excluding the 53rd Week and including the last week of the third quarter ended January 2, 2022 (“14th Week”).

			Fourth quarter ended																											Change
CAD $ millions			April 3, 2022						14th Week			53rd Week						April 3, 2022 including 14th Week, excluding 53rd Week						March 28, 2021						$ Change						% Change
DTC			185.4						38.6			(4.7)						219.3						171.6						47.7						27.8		%
Wholesale			35.1						2.1			(0.7)						36.5						33.9						2.6						7.7		%
Other			2.6						0.2			(0.1)						2.7						3.3						(0.6)						(18.2)		%
Total revenue			223.1						40.9			(5.5)						258.5						208.8						49.7						23.8		%

DTC

Revenue from our DTC segment was $185.4m for the fourth quarter ended April 3, 2022 compared to $171.6m for the fourth quarter ended March 28, 2021. The increase of $13.8m or 8.0% was attributable to higher revenue from existing stores and new retail expansion partially offset with a decrease in e-Commerce revenue of 12.3%. Excluding the 53-week, and including

the last week of Q3, revenue increased by $33.9m resulting in growth of 27.8% for DTC, with e-Commerce growing at 1.2%.

Wholesale

Revenue from our Wholesale segment was $35.1m for the fourth quarter ended April 3, 2022 compared to $33.9m for the fourth quarter ended March 28, 2021. The increase of $1.2m or 3.5% was attributable to higher order values. Excluding the 53-week, and including the last week of Q3, revenue increased by $1.4m, resulting in growth of 7.7%.

Other

Revenue from our Other segment was $2.6m for the fourth quarter ended April 3, 2022 compared to $3.3m for the fourth quarter ended March 28, 2021. The decrease of $0.7m or (21.2)% was attributable to a decrease in employee sales.

Revenue by geography

			Fourth quarter ended												$ Change																		% Change
CAD $ millions			April 3, 2022						March 28, 2021						As reported						Foreign exchange impact						In constant currency(2)						As reported						In constant currency(2)
Canada			40.2						39.2						1.0						—						1.0						2.6		%				2.6		%
United States			70.5						55.9						14.6						0.6						15.2						26.1		%				27.2		%
Asia Pacific			70.6						77.7						(7.1)						(1.8)						(8.9)						(9.1)		%				(11.5)		%
EMEA(1)			41.8						36.0						5.8						1.9						7.7						16.1		%				21.4		%
Total revenue			223.1						208.8						14.3						0.7						15.0						6.8		%				7.2		%

(1)EMEA comprises Europe, the Middle East, Africa, and Latin America.

(2)Constant currency revenue is a non-IFRS financial measure. See “Non-IFRS Financial Measures and Other Specified Financial Measures” for a description of these measures.

Revenue increased in Canada, the United States and EMEA for the fourth quarter ended April 3, 2022 compared to the comparative quarter resulting from an increase in DTC revenue. Asia Pacific decreased due to lower DTC revenue.

Gross profit and gross margin for the fourth quarter ended April 3, 2022 were $154.1m and 69.1%, respectively, compared to $138.6m and 66.4%, respectively, for the fourth quarter ended March 28, 2021. The increase in gross profit of $15.5m was attributable to higher revenue as noted above. Gross margin in the current quarter was favourably impacted by incremental benefits from pricing partially offset by unfavourable impacts from product mix due to higher sales in non-parka categories, typically with lower margins.

			Fourth quarter ended
			April 3, 2022												March 28, 2021
CAD $ millions			Gross profit						Gross margin						Gross profit						Gross margin						$ Change						Change in bps
DTC			141.1						76.1		%				127.2						74.1		%				13.9						200		bps
Wholesale			11.8						33.6		%				10.8						31.9		%				1.0						170		bps
Other			1.2						46.2		%				0.6						18.2		%				0.6						—
Total gross profit			154.1						69.1		%				138.6						66.4		%				15.5						270		bps

DTC

Gross profit in our DTC segment was $141.1m for the fourth quarter ended April 3, 2022 compared to $127.2m for the fourth quarter ended March 28, 2021. The gross margin was 76.1% for the fourth quarter ended April 3, 2022, an increase of +200 bps compared to 74.1% in the comparative quarter. During the fourth quarter ended April 3, 2022, gross margin was favourably impacted by incremental impacts from pricing (+180 bps).

Wholesale

Gross profit in our Wholesale segment was $11.8m for the fourth quarter ended April 3, 2022 compared to $10.8m for the fourth quarter ended March 28, 2021. The increase of $1.0m in gross profit was attributable to lower revenues in 2021. The gross margin was 33.6% for the fourth quarter ended April 3, 2022, an increase of +170 bps compared to 31.9% in the comparative quarter. The gross margin in the comparative quarter included COVID-19 related government payroll benefits (+90 bps), excluding this impact, gross margin was 32.8% in the comparative year. During the fourth quarter ended April 3, 2022, gross margin was favourably impacted by the higher proportion of sales to our wholesale partners compared to international distributors (+110 bps).

Other

Gross profit in our Other segment was $1.2m respectively, for the fourth quarter ended April 3, 2022 compared to gross profit of $0.6m for the fourth quarter ended March 28, 2021, an increase of $0.6m from employee sales with higher margins.

SG&A expenses were $153.2m for the fourth quarter ended April 3, 2022 compared to $131.4m for the fourth quarter ended March 28, 2021. The increase of $21.8m or 16.6% was attributable to $10.6m higher costs related to incremental new stores and the reopening of existing retail stores, $4.2m of unfavourable foreign exchange fluctuations related to working capital denominated in currencies other than Canadian dollars and the Term Loan Facility, net of hedge impacts and $4.8m in strategic initiatives, including digital capabilities and ongoing support of Canada Goose footwear. The increase was partially offset by $6.2m of reduced marketing expenditures due to a timing shift in activities. As a result of slower than expected return of international retail traffic and limited time remaining on existing leases, we recorded $7.7m of impairment losses in respect of two retail stores in the DTC operating segment in the current quarter.

			Fourth quarter ended
			April 3, 2022												March 28, 2021
CAD $ millions			Reported						% of segment revenue						Reported						% of segment revenue						$ Change						% Change
DTC			69.4						37.4		%				52.5						30.6		%				(16.9)						(32.2)		%
Wholesale			12.6						35.9		%				13.8						40.7		%				1.2						8.7		%
Other			71.2						—						65.1						—						(6.1)						(9.4)		%
Total SG&A expenses			153.2						68.7		%				131.4						62.9		%				(21.8)						(16.6)		%

Depreciation and amortization, included above, was $21.6m for the fourth quarter ended April 3, 2022 compared to $17.4m for the fourth quarter ended March 28, 2021, an increase of $4.2m of which $3.8m was attributable to continued retail expansion.

DTC

SG&A expenses in our DTC segment for the fourth quarter ended April 3, 2022 were $69.4m, or 37.4% of segment revenue, compared to $52.5m, or 30.6% of segment revenue, for the fourth quarter ended March 28, 2021. The increase of $16.9m or 32.2% was attributable to $18.3m of higher operating costs due to incremental new stores and the reopening of existing retail stores including personnel costs. Additionally, there were $1.1m of higher costs related to e-Commerce volumes and to support our e-Commerce platform. These increases were partially offset by a $2.2m reduction in warranty costs. The comparative quarter also benefited from $0.8m of COVID-19 related government payroll subsidies which did not recur. Pre-store opening costs and COVID-19 related temporary store closure costs of less than $0.1m and $nil, respectively, were recognized in the fourth quarter ended April 3, 2022 compared to pre-store opening costs and COVID-19 related temporary store closure costs of $0.3m and $0.3m, respectively, in the comparative quarter.

Depreciation and amortization, included above, was $19.0m for the fourth quarter ended April 3, 2022 compared to $15.3m for the fourth quarter ended March 28, 2021, an increase of $3.7m, which was largely attributable to continued retail expansion. We also recorded $7.7m of impairment losses as described above.

Wholesale

SG&A expenses in our Wholesale segment for the fourth quarter ended April 3, 2022 were $12.6m, or 35.9% of segment revenue, compared to $13.8m, or 40.7% of segment revenue, for the fourth quarter ended March 28, 2021. The decrease of $1.2m or 8.7% was attributable to $3.3m of lower warranty costs partially offset by $1.0m of higher freight costs, $0.5m of higher marketing costs and $0.3m of higher service fees.

Other

SG&A expenses in our Other segment, which include unallocated corporate expenses, were $71.2m for the fourth quarter ended April 3, 2022 compared to $65.1m for the fourth quarter ended March 28, 2021. The increase of $6.1m or 9.4% was attributable $5.0m in strategic initiatives, $4.1m unfavourable foreign exchange fluctuations related to working capital denominated in currencies other than Canadian dollars and the Term Loan Facility, net of hedge impacts and $3.1m increase driven by transaction related legal costs. The increase was partially offset by $6.6m of reduced marketing expenditures due to timing of activities.

Operating income and operating margin were $0.9m and 0.4% for the fourth quarter ended April 3, 2022 compared to operating income and operating margin of $7.2m and 3.4% the fourth quarter ended March 28, 2021. The decrease in operating income of $6.3m and operating margin of 300 bps were attributable to higher operating and impairment costs noted above, partially offset by higher gross profit.

			Fourth quarter ended
			April 3, 2022												March 28, 2021
CAD $ millions			Operating income (loss)						Operating margin						Operating income (loss)						Operating margin						$ Change						Change in bps
Segment:
DTC			71.7						38.7		%				74.7						43.5		%				(3.0)						(480)		bps
Wholesale			(0.8)						(2.3)		%				(3.0)						(8.8)		%				2.2						650		bps
Other			(70.0)						—						(64.5)						—						(5.5)						—
Total operating income			0.9						0.4		%				7.2						3.4		%				(6.3)						(300)		bps

DTC

DTC segment operating income was $71.7m for the fourth quarter ended April 3, 2022 compared to $74.7m for the fourth quarter ended March 28, 2021. Despite improved sales volumes, operating income and operating margin decreased by $3.0m and 480 bps, respectively. Excluding impairment losses as described above, operating income was $79.4m and operating margin was 42.8%. Pre-store opening costs and COVID-19 related temporary store closure costs of less than $0.1m and $nil , respectively, were recognized in the fourth quarter ended April 3, 2022 compared to pre-store opening costs and COVID-19 related temporary store closure costs of $0.4m and $0.7m, respectively, in the comparative quarter.

Wholesale

Wholesale segment operating loss and operating margin were $0.8m and (2.3)% for the fourth quarter ended April 3, 2022 compared to $3.0m and (8.8)% for the fourth quarter ended March 28, 2021. The decrease in operating loss of $2.2m and increase in operating margin of 650 bps were attributable to a higher segment revenue and gross profit, as well as lower SG&A expenses as discussed above.

Other

Other segment operating loss was $70.0m for the fourth quarter ended April 3, 2022 compared to $64.5m for the fourth quarter ended March 28, 2021. The increase in operating loss of $5.5m was attributable to higher SG&A expenses as discussed above.

Net Interest, Finance and Other Costs

Net interest, finance and other costs were $7.0m for the fourth quarter ended April 3, 2022 compared to $8.2m for the fourth quarter ended March 28, 2021. The decrease of $1.2m or 14.6% was driven by lower interest charges of $1.0m on the Term Loan Facility due to a lower average interest rate on borrowings in the comparative quarter.

Income tax expense was $3.0m for the fourth quarter ended April 3, 2022 compared to income tax recovery of $3.5m for the fourth quarter ended March 28, 2021. For the fourth quarter ended April 3, 2022, the effective and statutory tax rates were (49.20)% and 25.4%, respectively, compared to 350.0% and 25.4% for the fourth quarter ended March 28, 2021. Given our global operations, the effective tax rate is largely impacted by our profit or loss in taxable jurisdictions relative to the applicable tax rates. Also, the reduction in deferred tax assets related to the Swiss Tax Reform and non-capital losses contributed to net tax expense during a quarter of overall loss while in the prior year, there were less non-deductible expenses, creating a positive rate recovery.

Net loss for the fourth quarter ended April 3, 2022 was $9.1m compared to net income of $2.5m for the fourth quarter ended March 28, 2021, driven by the factors described above.

			Fiscal 2022															Fiscal 2021
CAD $ millions (except per share data)(2)			Fourth Quarter			Third Quarter			Second Quarter			First Quarter						Fourth Quarter			Third Quarter			Second Quarter			First Quarter
Revenue
DTC			185.4			443.9			82.0			29.1						171.6			299.1			46.2			10.4
Wholesale			35.1			138.2			149.1			26.1						33.9			161.1			118.5			8.7
Other			2.6			4.0			1.8			1.1						3.3			13.8			30.1			7.0
Total			223.1			586.1			232.9			56.3						208.8			474.0			194.8			26.1
% of fiscal year revenue			20.3		%	53.4		%	21.2		%	5.1		%				23.1		%	52.5		%	21.6		%	2.9		%
Net (loss) income			(9.1)			151.3			9.9			(57.5)						2.5			107.0			10.6			(49.8)
(Loss) earnings per share
Basic			$	(0.09)		$	1.42		$	0.09		$	(0.52)					$	0.02		$	0.97		$	0.10		$	(0.45)
Diluted			$	(0.09)		$	1.40		$	0.09		$	(0.52)					$	0.02		$	0.96		$	0.10		$	(0.45)
Adjusted EBIT(1)			12.5			206.0			17.4			(61.3)						4.8			157.9			16.0			(46.1)
Adjusted net income (loss) per diluted share(1)			$	0.04		$	1.41		$	0.13		$	(0.46)					$	0.01		$	1.01		$	0.11		$	(0.35)