Aritzia says Q2 net income up 19 per cent to $17.9M after online sales boost

Aritzia says Q2 net income up 19 per cent to $17.9M after online sales boost
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VANCOUVER — Clothing retailer Aritzia Inc. says net income rose by about 19 per cent in its last quarter compared with a year earlier as it expanded its online sales and store count.

The Vancouver-based company reported net income of $17.9 million in the second quarter of its fiscal 2020 year, which ended Sept. 1, compared with $15.1 million for the same quarter a year earlier.

It says adjusted net income came to $19.8 million for an eight per cent increase from last year, while adjusted earnings per diluted share rose by 12.5 per cent to 18 cents.

Analysts had expected adjusted earnings of $13.8 million and 13 cents per share, according to financial markets data firm Refinitiv.

Aritzia had net revenue of $241.2 million compared with $205.4 million last year.

The company says it has added four stores and expanded or repositioned two more since the second quarter of its last fiscal year.

This report by The Canadian Press was first published Oct. 15, 2019.

Companies in this story: (TSX:ATZ)

The Canadian Press

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