Clothing retailer Aritzia reports $15.8 million in first-quarter profit and $498.6 million in net revenue

VANCOUVER — Aritzia Inc. said it earned $15.8 million in the first quarter, down from $17.5 million a year earlier.

The Vancouver-based clothing retailer’s net revenues totaled $498.6 million, up from $462.7 million.

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

Aritzia’s adjusted net income was $25 million, compared with $11.2 million a year earlier.

Retail net revenue rose 9.2% year-over-year to $357.8 million, while e-commerce net revenue jumped 4.2% to $140.8 million.

Aritzia believes the increases were due to the opening of new stores, which translated into better-than-expected results.

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

Companies in this article: (TSX:ATZ)

Canadian Press