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Aritzia on a Roll, How the Fashion Brand Sees Sustaining the Growth

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Aritzia on a Roll, How the Fashion Brand Sees Sustaining the Growth

Executives said momentum from the second quarter is continuing and cite initiatives to improve infrastructure and accelerate digital and store growth.

Shares of Aritzia skyrocketed 18 percent Friday after the rapidly expanding fashion brand reported strong second-quarter results on Thursday and raised its outlook for the year.

As of midday, Aritzia’s stock hit $144, up $22.11, on the Toronto stock exchange, where it trades in Canadian dollars and has a market capitalization of $16.5 billion.

“We remain exceptionally well positioned to capitalize on our long runway for growth in the U.S. and beyond,” said Aritzia’s chief executive officer Jennifer Wong during a conference call with industry analysts and investors.

Wong has plenty of momentum to work with as she pursues that growth.

The Vancouver-based fashion company, which reports results in its native currency, as shown here, said revenue for the quarter ended Aug. 30 increased 44.1 percent to $1.2 billion; comparable sales rose 34.5 percent, and net income increased 204.2 percent to $201.7 million.

“This fiscal year, we have a strong pipeline of 12 to 13 new boutiques in premier locations, and four to five repositions. In Q3, we’re on track to open six new U.S. boutiques, one each in Florida, Georgia, Massachusetts and Nevada, and two in Texas. We’re also opening two repositions, in California and in Quebec…New store productivity and paybacks remain exceptional.”

, and 146 in total. ,” said Wong. S. alone.



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