For its third quarter that ended in late November, international fashion design firm Aritzia Inc. reported a 4.6 percent net revenue increase to $653.5-million(Cdn) over third quarter 2023 and comparable store sales was up by 0.5 percent. United States net revenue was up 4.2 percent to $326.6-million(Cdn). Retail net revenue increased 4.2 percent over the previous year to $441.1-million(Cdn) and eCommerce revenue was up 5.5 percent. Aritzia operates over 60 stores across Canada and over 50 throughout the United States. Based on quarter-to-date trends, Aritzia expects net revenue in the range of $670-million to $690-million(Cdn) in the fourth quarter of Fiscal 2024, including the addition of approximately $30-million from the 53rd week. This represents growth of approximately five to eight percent on top of strong growth of 44 percent in the fourth quarter last year. For fiscal 2024, the company expects net revenue in the range of $2.32-billion to $2.34-billion(Cdn), representing growth of approximately six to seven percent from fiscal 2023 including the 53rd week, compared to the company’s previous outlook of $2.25 billion to $2.35 billion(Cdn). This includes the contribution from retail expansion in the United States with six new boutiques and three boutique expansions. Five new boutiques as well as the three boutique expansions have already opened. Compared to the company’s prior outlook of eight new boutiques and four boutique expansions, two new boutiques are now expected to open in Fiscal 2025. “Although the consumer environment remains mixed, we generated sales growth across all of our geographies and channels, as clients responded well to our new styles and outerwear offering,” said CEO Jennifer Wong. “Looking ahead, we expect to launch Spring 2024 with an improved product assortment and inventory position. We are also accelerating our real estate expansion strategy into Fiscal 2025 and diligently working to increase our eCommerce momentum through strategic investments in leadership, digital marketing and technology.”
Aritzia Inc., #118, 611 Alexander St., Vancouver, British Columbia V6A 1E1 (855/274-8942 www.aritzia.com)