Comes off Strong Year, Stronger Qtr……..
For its fourth quarter that ended in late February, fashion design house Aritzia Inc. announced a net revenue increase of 17.9 percent to $259.1-million(Cdn) from $219.8-million in Q4 last year, with positive performance across all geographies and all channels. Comparable sales for the fourth quarter were up by 5.5 percent. For the full year, net revenue increased by 17.6 percent to $874.3-million(Cdn), including $12.2-million from the extra week, compared to $743.3-million in the prior year. The increase was primarily driven by the revenue from new, expanded and repositioned boutiques, as well as comparable sales growth of 9.8 percent, resulting from continued strength in the company's eCommerce business as well as strong performance in boutiques. During the year, Aritzia Inc. grew its boutique network with seven new boutiques, five in Canada, including one in a new market of Quebec City, and two in the United States, both in new markets, San Diego and Washington, D.C. All boutiques opened in fiscal 2019 are performing at or above expectations. The company also expanded or repositioned four boutiques, including two expanded flagship locations, Bloor St.in Toronto and Soho in New York. Aritzia also successful launched a leather program and denim line, as well as an enhanced outerwear program during the year and advanced omni-channel capabilities by opening a new 225,000 square foot greater Vancouver distribution centre and upgrading the warehouse management system. "Fiscal 2019 was an incredible year for Aritzia,” said Founder, CEO and Chairman Brian Hill. “Our strong performance throughout the year demonstrates both the power of our business model and our commitment to execution across all areas of our organization. Aritzia's track record of success has demonstrated an ability not only to drive growth, but also to profitably sustain it. Our distinctive position as a fashion brand destination, our beautiful high-quality product, combined with an aspirational shopping experience, has enabled us to attract and retain a loyal client base. Looking ahead, we are excited to build on the momentum in our business as we continue to advance our growth strategies. We believe we are well positioned to achieve or exceed our fiscal 2021 performance targets." The company’s first quarter of fiscal 2020 is off to a strong start with the Spring and Summer collections being well-received, with quarter to date comparable sales growth trending sequentially higher than the fourth quarter fiscal 2019. For fiscal 2020, the company currently expects net revenue growth in the low double digits. During the coming year, six new boutiques will open in the U.S., including the Hudson Yards boutique in New York already opened in the first quarter. In addition, three boutique expansions or repositions in Canada are planned, including the expansion of the Mapleview boutique in greater Toronto already opened in the first quarter. Aritzia is a vertically integrated design house of exclusive fashion brands with over 90 fashion boutiques in Canada and the United States trading under the Aritzia, Babaton, Wilfred and TNA banners and an eCommerce platform. The company designs apparel and accessories for its collection of exclusive brands. Its diverse range of women's fashion apparel and accessories addresses a broad range of style preferences and lifestyle requirements.
Aritzia Inc., #118, 611 Alexander St., Vancouver, British Columbia V6A 1E1 (855/274-8942 www.aritzia.com)