Apparel retailer Aritzia reports $15.8M in Q1 earnings, net revenues $498.6M

VANCOUVER – Aritzia Inc. says it earned $15.8 million in its first quarter, down from $17.5 million a year earlier.

Net revenues for the Vancouver-based apparel retailer totalled $498.6 million, up from $462.7 million.

Earnings per diluted share were 14 cents during the period ended June 2, down from 15 cents last year.

Aritzia’s adjusted net income amounted to $25 million compared with $11.2 million a year prior.

Its retail net revenue rose 9.2 per cent from a year before to $357.8 million, while its ecommerce net revenue jumped 4.2 per cent to $140.8 million.

Aritzia attributed the increases to the opening of new stores, which generated better-than-expected results.

This report by The Canadian Press was first published July 11, 2024.

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