Aritzia, a leading Canadian women’s fashion retailer, has announced strong financial results for its third quarter ended 1st December 2024. The net revenue increased 11.5 per cent to US $ 728.7 million, driven by robust growth in the United States.
The company reported a 23.6 per cent surge in US net revenue to US $ 403.7 million, while Canadian revenue saw a slight decrease of 0.6 per cent. Retail net revenue increased 10.3 per cent to US $ 486.6 million, and e-commerce sales climbed 14 per cent to US $ 242.1 million.
The company is prioritizing expansion in the US market, where it sees significant growth potential, according to reports.This includes opening new boutiques and investing in its e-commerce platform.
Aritzia’s CEO, Jennifer Wong, expressed satisfaction with the company’s performance, highlighting the strong US market and the positive client response to its winter collection.
US revenue significantly outpaced Canadian revenue in the latest quarter, demonstrating strong consumer demand for the Aritzia brand. The company plans to open 8-10 new US boutiques annually, aiming to expand its US store count to over 150 in the coming years.
Looking ahead, Aritzia expects strong fourth-quarter growth, with net revenue projected to reach between US $ 830 million and US $ 850 million, representing an increase of 22 per cent to 25 per cent. For the full fiscal year, the company forecasts net revenue between US $ 2.67 billion and US $ 2.69 billion, representing a 15 per cent increase.
