Leading Canadian fashion retailer Aritzia (ATZ) reported that its first quarter net profit grew 86%
to $33.3 million, or $0.29 per share.
The Vancouver-based company attributed the growth in its net profit to a 65% increase in its
revenue to $407.9 million during the quarter, with same-store sales climbing 29.4%.
Excluding one-time items, adjusted net income in Q1 totaled $40.9 million or $0.35 a share,
compared with $21.7 million or $0.19 per share in the same period a year ago.
Retail revenues rose 71% to $287.8 million while e-commerce sales gained 15.5% to $120.1
million in the quarter. Revenues in the U.S. rose 81%.
Looking ahead, Aritzia raised its full-year revenue guidance to between $1.88 billion and $1.9
billion from a previous outlook of $1.80 billion.
Year to date, Aritzia stock is down 32% at $36.19 per share.
