Canada Goose Provides Update on Arbitration Proceedings
Article content
TORONTO — Canada Goose Holdings Inc. (NYSE:GOOS, TSX:GOOS) announced today that an arbitrator has awarded financial compensation to a former vendor in connection with a previously announced commercial dispute. The case relates to the termination of a contract in 2021, and the award communicated today has resulted in a one-time financial charge of approximately $30 million USD.
Article content
Canada Goose disagrees with the legal basis for this award and is assessing available options.
Article content
Article content
This judgment is not related to current vendor relationships or ongoing business operations. Canada Goose maintains strong global partnerships with its vendors and this matter is not expected to have any material impact on the company's long-term financial position or strategy.
Article content
The company will reflect the charge in its financial results for the first quarter of fiscal 2026 and reaffirms its focus on disciplined execution, brand growth, and delivering value to shareholders.
Article content
About Canada Goose
Article content
Canada Goose is a performance luxury outerwear, apparel, footwear and accessories brand that inspires all people to thrive in the world outside. We are globally recognized for our commitment to Canadian manufacturing and our high standards of quality, craftsmanship and functionality. We believe in the power of performance, the importance of experience, and that our purpose is to keep the planet cold and the people on it warm. For more information, visit www.canadagoose.com.
Article content
Cautionary Note Regarding Forward-Looking Statements
Article content
This press release contains forward-looking statements, including statements relating to the impact of the arbitration award and any further actions that may be taken in respect thereof. These forward-looking statements generally can be identified by the use of words such as 'believe,' 'could,' 'continue,' 'expect,' 'estimate,' 'may,' 'potential,' 'would,' 'will,' and other words of similar meaning. Each forward-looking statement contained in this press release is subject to substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, the impact on our operations of the current global economic conditions and their evolution and are discussed under 'Cautionary Note regarding Forward-Looking Statements' and 'Factors Affecting our Performance' in our interim and annual Management's Discussion and Analysis ('MD&A') as well as under 'Risk Factors' in our Annual Report on Form 20-F for the year ended March 31, 2025. You are also encouraged to read our filings with the SEC, available at www.sec.gov, and our filings with Canadian securities regulatory authorities available on SEDAR+ at www.sedarplus.ca for a discussion of these and other risks and uncertainties. Investors, potential investors, and others should give careful consideration to these risks and uncertainties. We caution investors not to rely on the forward-looking statements contained in this press release when making an investment decision in our securities. The forward-looking statements in this press release speak only as of the date of this release, and we undertake no obligation to update or revise any of these statements.
Article content
Article content
Article content
Article content
Article content
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Globe and Mail
37 minutes ago
- Globe and Mail
Why AST SpaceMobile Stock Is Skyrocketing This Week
Shares of AST SpaceMobile (NASDAQ: ASTS) are moving higher this week, up 33.9% as of 2 p.m. ET from last Friday's close. The gain comes as the S&P 500 gained 1.5% and the Nasdaq-100 gained 2.2%. Earlier in the week, a board member posted a picture to social media that fueled speculation of a possible partnership with Jeff Bezos' Blue Origin. The stock also received a boost after yesterday's public spat between President Donald Trump and Elon Musk. A possible partnership After Bezos visited the company's Texas headquarters, AST board member Adriana Cisneros posted a picture of Bezos, AST CEO Abel Avellan, and herself to Instagram with the caption, "Amazing things are happening at AST & Science + Blue Origin." This fueled speculation that Blue Origin, Bezos' space exploration company, could be looking to create a closer relationship with AST. The company already has a contract with AST to launch 45 satellites, but a more formal partnership would be a game changer for AST SpaceMobile. Musk and Trump fall out Elon Musk and President Donald Trump escalated a public spat yesterday. What began when Musk took to X to criticize Trump's flagship "Big, Beautiful Bill" quickly turned personal and included Trump threatening to cancel contracts with Musk's SpaceX. If this were to happen, it could leave the door open for AST SpaceMobile to, at least partially, fill the void. This is all speculation; nothing is concrete. That being said, both of these possibilities represent a huge upside for AST. For investors with a high risk appetite, AST can be a solid pick. However, be aware that there is a significant risk. The company has a long way to go to justify its valuation. Should you invest $1,000 in AST SpaceMobile right now? Before you buy stock in AST SpaceMobile, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and AST SpaceMobile wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $674,395!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $858,011!* Now, it's worth noting Stock Advisor 's total average return is997% — a market-crushing outperformance compared to172%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of June 2, 2025
CTV News
41 minutes ago
- CTV News
Public service asking for over-expenditure approval for Portage and Main construction
Concrete barriers at Winnipeg's Portage and Main are demolished on May 6, 2025. (Katherine Dow/CTV News Winnipeg) The work to reopen Portage and Main to pedestrians is expected to cost a little bit more, according to a new report from the city. The public service is asking for an over-expenditure of $808,000 to be approved. 'This additional authority is required as original estimates were based on existing records and the physical conditions could not be visually inspected until work began and the area was uncovered. It is not expected that the use of the full contingency will be required,' the report reads. The original contract for the construction work was estimated at $16,144,035.75. If approved, the construction cost will now be just under $17 million. The public works director previously told council about this over-expenditure in May, noting the money would come from the contingency dollars that are included in the project. An approval would mean the project would still finish within the approved budget. The entire budget for the whole project is around $21 million. The latest update from public works confirmed the project is still on track to be completed by July 1. The standing policy committee on public works will review the over-expenditure at the June 12 meeting. Road closure starting next week The city also announced eastbound Portage Avenue East is also expected to be closed for around 36 hours starting next week. On June 9 at 7 a.m., paving work is expected to start on that stretch of the road. The road will open with restrictions starting the evening of June 10. While the road is closed, the city is suggesting two other options for drivers who want access to westbound Portage Avenue East. The first is taking northbound Main Street to eastbound Lombard Avenue to southbound Westbrook Street and then Portage. The second choice is southbound Main at William Stephenson Way to northbound Westbrook Street to westbound Portage. The city said rotating lane closures will continue until late June.
CBC
an hour ago
- CBC
Marble draws no interest in latest government effort to off-load ski resort
The government of Newfoundland and Labrador is still struggling to off-load a seasonal tourism destination on the island's west coast, after receiving no public interest in its latest effort to sell off Atlantic Canada's largest ski resort. Marble Mountain Resort resides in Steady Brook, just west of Corner Brook. It's currently owned and operated by the provincial government, which has made several attempts to sell the operation. In June 2018, the province issued a request for proposal in hopes of drumming up a buyer. The RFP was cancelled in July 2021 after only three submissions were received. In August, an expression of interest for the purchase or long-term lease of the resort was issued. Former tourism minister Steve Crocker told CBC News at the time that two parties expressed interest. In February, the province issued a new RFP for the sale of the resort. Tourism Minister Fred Hutton said the government received no bids. "We're sort of back to square one," Hutton said. "We weren't completely surprised by this." WATCH | What's next for Marble Mountain: No bidders for Marble Mountain…. again 3 hours ago Duration 1:48 No interest The sale of Marble Mountain was recommended by both former premier Andrew Furey's economic recovery team and a 2022 review of provincial assets performed by multinational bank and financial services company Rothschild and Co. Hutton said the province would like to see the property become a privately owned four-season resort — a vision, he says, requires a private investor. "People have been doing other things around Marble Mountain for years," Hutton said. "It's just a matter of marketing that and having the right people behind it and the right investment that private would bring to it." In the meantime, the 2025 provincial budget has committed to funding Marble Mountain through its 2025-26 winter season. Hutton said the facility is a cornerstone of tourism on Newfoundland's west coast. "Over the last five years we've committed to about $4.5 million dollars in capital investments in addition to the operating fund that the province gives to the ski hill each and every year," he said, adding that the province remains committed to keeping the resort open. "If a private investor comes in and has some sort of different vision, that's why we want to talk to the stakeholders."
