Aritzia sees 13th straight quarter of comparable sales growth, net revenue up

Aritzia sees 13th straight quarter of comparable sales growth, net revenue up

VANCOUVER — Aritzia Inc. (TSX:ATZ) reported its 13th consecutive quarter of positive comparable sales growth in its most recent quarter.

The Vancouver-based women’s fashion brand says its comparable sales grew 6.3 per cent for its third quarter ended Nov. 26, 2017, due to continued momentum in its e-commerce business. In the third quarter of 2016, it reported 15.1 per cent growth.

Its net revenue rose 9.6 per cent to $204.4 million, compared to $186.5 million in the same quarter last year. The company mostly attributed the increase to seven store openings, as well as five expanded or repositioned stores since the third quarter.

The company says its adjusted net income rose 11.4 per cent to $30.6 million, or 26 cents per share, from $27.5 million, or 23 cents per share, in the third quarter of 2016.

While its net revenue fell below analyst expectations, its earnings per share outperformed estimates, according to data from Thomson Reuters.

The Canadian Press

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