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Aritzia's Q4 profit spikes 35% from last year, net revenue up almost 33%
Expansion into new boutiques and U.S. markets helped drive the gains, with net revenue rising to $1.19 billion, the company said.
- Aritzia Inc. reported a 35 per cent profit jump in its latest quarter, with net revenue surging about 33 per cent to $1.19 billion.
- The Vancouver-based retailer is executing an aggressive United States expansion strategy; it currently operates 76 boutiques and aims to reach between 180 and 200 locations.
- On an adjusted basis, Aritzia's net income reached $138.2 million for the quarter, while diluted earnings per share rose to $1.12.
- Chief executive Jennifer Wong said Aritzia will "reimagine the brand for a new generation" after purchasing Fred Segal and leasing its Melrose Avenue property in Los Angeles.
- A new distribution centre in British Columbia will open next week, serving as a precursor to a second United States facility expected to debut later this year.
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Aritzia continues to open new shops. The post The profit of Aritzia jumped 35% compared to last year at the 4T appeared first on Les Affaires.
Coverage Details
Total News Sources12
Leaning Left2Leaning Right0Center7Last UpdatedBias Distribution78% Center
Bias Distribution
- 78% of the sources are Center
78% Center
L 22%
C 78%
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