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Jan 9, 2019

Aritzia Q3 net income jumps 16% as same store sales continue ascent

Aritzia under pressure even amid same-store sales growth

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VANCOUVER -- Aritzia Inc. says its net income increased by more than 16 per cent in the third quarter as the womenswear retailer experienced its 17th quarter of growth in comparable store sales.

The Vancouver-based brand says its net income for the period ending Nov. 25 reached $32.6 million, up from $28.1 million the year before.

Aritzia says comparable sales growth jumped by 12.9 per cent as it focused on its e-commerce offerings and explored marketing with social media influencers.

It says its net revenue climbed by 18.8 per cent to $242.9 million from $204.4 million in the third quarter the year before.

The company says 40 per cent of its revenue growth in the quarter is attributable to its U.S. business.

Aritzia says 2019 will bring a handful of new boutiques and expansions, but 2020 will be its biggest year yet for U.S. expansion because the brand will open six boutiques in the country that fiscal year.