Canada Goose Announces Donation to United Nations, Suspends Sales in Russia

Rhea-AI Summary

Canada Goose (NYSE: GOOS) is responding to the ongoing conflict in Ukraine by donating $100,000 CAD to the UNHCR to support humanitarian efforts. The company has also suspended all wholesale and e-commerce sales to Russia due to the challenging operating environment and evolving sanctions. Although Canada Goose retail locations remain unaffected, the organization is closely monitoring the situation and advocates for peace. Founded in 1957, Canada Goose is known for its performance luxury apparel, embodying uncompromised craftsmanship.

Positive

• Donation of $100,000 CAD to UNHCR for humanitarian aid.
• Continued support for humanitarian efforts amidst the conflict.

Negative

• Suspension of wholesale and e-commerce sales to Russia due to sanctions.

TORONTO--(BUSINESS WIRE)-- Canada Goose (NYSE: GOOS; TSX: GOOS) is deeply concerned by the conflict unfolding in Ukraine. We stand with all of those who are impacted by the violence. We are supporting humanitarian efforts, providing aid to assist with the refugee crisis, and taking further actions to help.

We have taken a number of actions in response to the conflict. Through the Canada Goose Response Program, we are donating $100,000 CAD to the United Nations High Commissioner for Refugees (UNHCR) who are leading global humanitarian efforts in the region.

Further, while no Canada Goose retail locations have been impacted, in light of the challenged operating environment and evolving sanctions against Russian interests, we have decided to suspend all wholesale and e-commerce sales to Russia.

We will continue to monitor the situation as it evolves and join others around the world calling for peace.

About Canada Goose

Founded in 1957 in a small warehouse in Toronto, Canada, Canada Goose (NYSE:GOOS, TSX:GOOS) is a lifestyle brand and a leading manufacturer of performance luxury 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. In 2020, Canada Goose announced HUMANATURE, its purpose platform that unites its sustainability and values-based initiatives, reinforcing its commitment to keep the planet cold and the people on it warm. Canada Goose also owns Baffin, a Canadian designer and manufacturer of performance outdoor and industrial footwear. Visit www.canadagoose.com for more information.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220302005810/en/

Media

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Investor Relations

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Source: Canada Goose Holdings Inc.

FAQ

What is the recent action taken by Canada Goose regarding the conflict in Ukraine?

Canada Goose has donated $100,000 CAD to the UNHCR to support humanitarian efforts and has suspended all sales to Russia.

How is Canada Goose addressing the situation in Ukraine?

Canada Goose is providing financial support to the UNHCR and has halted sales to Russia in response to the crisis.

What are the financial implications for Canada Goose due to the suspension of sales to Russia?

The suspension of sales to Russia may affect Canada Goose's revenue from that market, but specific financial impacts are not detailed.

What aid is Canada Goose providing in response to the Ukraine conflict?

Canada Goose is donating $100,000 CAD to assist the UNHCR with humanitarian efforts related to the refugee crisis.