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
Advertisement