Canada Goose‘s net income increased despite revenue declining in the fiscal second quarter.

The outerwear retailer’s net income surged 53.7 per cent to $6.3 million despite revenue decreasing 5 per cent to $267.8 million.

Direct-to-consumer revenue fell 5 per cent to $103.9 million while wholesale revenue plunged 15 per cent to $137.3 million. Other revenue increased by $16.9 million to $26.6 million, attributed to clearing slow-moving and discontinued inventory.

The company ended the quarter with 72 stores after opening two new standalone stores and converting two temporary stores to permanent during the period.

“We remain focused on delivering an outstanding customer experience in our DTC channel and increasing desirability for our versatile collection through focused marketing and improved distribution,” said Dani Reiss, Canada Goose chairman and CEO.

“We believe we are well positioned for the upcoming holiday season and are excited to bring the first capsule collection from our creative director, Haider Ackermann, to market at the end of November.”

For the fiscal year, Canada Goose forecasts a low-single-digit decrease to a low-single-digit increase in its revenue, reflecting the increased pressure on global luxury consumer spending and incremental planned marketing expenses.