Aritzia earns $37.3 million in Q4 as sales continue to climb in U.S. and Canada
VANCOUVER — Aritzia Inc. says its net income for the fourth quarter was $37.3 million, up 9.1 per cent from $34.2 million a year earlier.
The Vancouver-based clothing retailer saw its net revenue climb 43.5 per cent in the quarter ended Feb. 26 to $637.6 million.
Retail net revenue rose by 38.4 per cent to $363.1 million, while e-commerce net revenue rose by 50.8 per cent to $274.5 million.
Earnings per diluted share were 32 cents, up from 29 cents the same quarter a year earlier.
Net income for the full fiscal year was $187.6 million, up 19.5 per cent from the prior year, while net revenue rose by 46.9 per cent to $2.2 billion.
Aritzia CEO Jennifer Wong said in a press release Tuesday that the company has seen exceptional growth in the U.S., which now represents more than half of its total net revenue.
"In Fiscal 2024, our focus will be on scaling our infrastructure to match our recent tremendous growth and make strategic investments to fuel our future growth and achieve our long-term goals," she said.
This report by The Canadian Press was first published May 2, 2023.
Companies in this story: (TSX:ATZ)
The Canadian Press