Aritzia Inc. says it expects net revenue for its first quarter to be about 45 per cent lower than at the same time last year due to the impacts of COVID-19.
An Aritzia store is shown in Vancouver. VANCOUVER -- Clothing retailer Aritzia Inc. expects its net revenue is about 45 per cent lower for the current quarter compared with the same time last year due to COVID-19 related store closures and despite a significant spike in online sales.for the three months ending May 31 to fall to between $105 million and $110 million, compared with about $197 million in the first quarter last year, the company said Thursday.
"Even though our overall business was down significantly as a result of our boutique closures, our e-commerce revenue growth has been in excess of 150 per cent compared to last year," he said, noting that's helped enable the company to avoid any layoffs or furloughs during the pandemic. Twenty-five stylists are using the new Clientele App to connect with their top clients. The app allows them to view client profiles and purchase histories; call, text or email clients; and curate looks and share styles, among other functionalities that intend to drive traffic and sales to the retailer's website.The company has started to slowly reopen some of its boutiques as of May 7 and expects to have about 30 of its locations opening by the end of the first quarter.
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