Aritzia Inc.'s net income jumped by almost 72 per cent over the last year as the company's e-commerce and U.S. revenues soared, but some of its financial figures also showed softness in the Canadian market.
Aritzia Inc.'s net income jumped by almost 72 per cent over the last year as the company's e-commerce and U.S. revenues soared, but some of its financial figures also showed softness in the Canadian market.
"When things are going this well, it is difficult to pinpoint and isolate any one aspect of it. It is everything working together," said chief executive Jennifer Wong, when pressed by analysts on a Wednesday call looking to parse exactly what had driven the quarter's gains.
In the last year, the company's net revenue attributable to the U.S. increased 23.6 per cent to $403.7 million as it opened"flagship" stores in New York's SoHo neighbourhood and on Chicago's trendy Michigan Avenue."When we open a new store and a new market ... all of the buzz around the flagship openings and the marketing around that does drive traffic to the e-commerce site," she said.
It also pointed out that the market was affected by the lack of a digital archive sale, which wasn't held this year but has driven sales in past years. In the third quarter, which ended Dec. 1 and spanned the start of the holiday shopping period, Aritzia's profit amounted to 63 cents per diluted share, compared to 38 cents per diluted share in the third quarter of its 2024 fiscal year.Its net revenue increased by 11.5 per cent year-over-year to $728.7 million.
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