Canada Goose Holdings Inc said it would limit shipments to department stores and focus on its own outlets and website to shore up profit margins, following the blow from the COVID-19 pandemic. The luxury winterwear maker said it would base its recovery at its own retail outlets for the rest of the year as the company can sell coats and down jackets at triple the profit. Canada Goose said shipments to department stores have been largely shut-off since March and it expects lower orders in the coming months compared to last year, given the piling up of inventory during closures. However, Chief Executive Officer Dani Reiss emphasized the shift in focus was because Canada Goose's own stores and online business would see a faster recovery than its wholesale channels.

Department stores have been crushed by forced closures as countries looked to curb the spread of the coronavirus. With a deep recession on the horizon, demand is not expected to bounce back any time soon.