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Oct 15, 2019

Aritzia says Q2 net income up 19% to $17.9M after online sales boost

Aritzia earnings boosted by Kendall Jenner, Hailey Bieber

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VANCOUVER -- Clothing retailer Aritzia Inc. says net income rose by about 19 per cent in its last quarter compared with a year earlier as it expanded its online sales and store count.

The Vancouver-based company reported net income of $17.9 million in the second quarter of its fiscal 2020 year, which ended Sept. 1, compared with $15.1 million for the same quarter a year earlier.

It says adjusted net income came to $19.8 million for an eight per cent increase from last year, while adjusted earnings per diluted share rose by 12.5 per cent to 18 cents.

Analysts had expected adjusted earnings of $13.8 million and 13 cents per share, according to financial markets data firm Refinitiv.

Aritzia had net revenue of $241.2 million compared with $205.4 million last year.

The company says it has added four stores and expanded or repositioned two more since the second quarter of its last fiscal year.