Aritzia reports strong Q2 revenue, profit growth

Canadian womenswear brand Aritzia has reported surging sales as it continues to recover from the pandemic.

In the three months to August 29, net revenue came in at 350.1 million dollars - that’s a 74.9 percent increase from last year and a 45.1 percent increase from two years ago.

The retailer said the revenue growth reflected accelerated momentum across all geographies and all channels.

E-commerce increased to 130.4 million dollars - up 48.7 percent from Q2 2021 and 171.1 percent from Q2 2020. It comprised 37.3 percent of net revenue in the quarter.

Meanwhile, retail revenue came in at 219.6 million dollars - 95.3 percent higher than a year ago and 13.8 percent higher than two years ago.

Net income increased to 39.8 million dollars from 0.9 million dollars a year earlier.

‘Unprecedented’ acceleration of sales in US
Aritzia founder, chairman and CEO Brian Hill said he was particularly pleased with the company’s “unprecedented” pace of growth in the US.

Hill said expansion in the country “will be a leading driver of our growth”.

“We are confident that e-commerce will continue to grow even on the back of 89 percent growth last year. Retail has surpassed our most optimistic expectations and is continuing to trend above pre-pandemic levels, now and for the foreseeable future,” Hill said.

“The performance of our new boutiques continues to outperform our expectations with significant investment focused on the US.”

The company now expects third-quarter net revenue to be in the range of 350 million dollars to 375 million dollars.