Latest Videos

{{ currentStream.Name }}

Related Video

Continuous Play:
ON OFF

The information you requested is not available at this time, please check back again soon.

More Video

Jul 14, 2021

Aritzia swings to Q1 profit as revenues more than double despite store closures

Christine Poole discusses Aritzia

VIDEO SIGN OUT

Security Not Found

The stock symbol {{StockChart.Ric}} does not exist

See Full Stock Page »

VANCOUVER - Aritzia Inc. says it swung to a $17.9-million profit in the first quarter as revenues more than doubled from a year ago despite a majority of its Canadian stores being closed.

The Vancouver-based clothing retailer says its profit for the three months ended May 30 compared with a $26.5-million loss in the prior year near the start of the COVID-19 pandemic.

Adjusted profits rose to $21.7 million or 19 cents per diluted share, from a loss of $24.9 million or 23 cents per share in the first quarter of fiscal 2021.

Revenues were $246.9 million, up from $111.4 million to start the last fiscal year and $196.7 million in the first quarter of fiscal 2020.

Aritzia was expected to report 21 cents per share in adjusted profits on nearly $235 million of revenues, according to financial data firm Refinitiv.

E-commerce revenues increased 19 per cent to $104 million on top of the 125 per cent increase a year ago