Aritzia reports Q2 financial results, net revenue increased by 74.9% to $350.1 million

Aritzia reports Q2 financial results, net revenue increased by 74.9% to $350.1 million
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VANCOUVER – Aritzia Inc. (TSX: ATZ)), a vertically integrated, innovative design house offering Everyday Luxury online and in its boutiques, today announced its second-quarter financial results for fiscal 2022 ended August 29, 2021.

“The outstanding performance of the Aritzia brand continued through the second quarter of fiscal 2022. Our net revenue growth of 75% reflects accelerated momentum across all geographies and all channels. I am particularly excited by the unprecedented pace of growth in our business in the United States, as existing and new clients enjoy our Everyday Luxury experience on Aritzia.com and in our boutiques. Our eCommerce revenue continues to surge with 49% growth on top of the 82% growth that we saw in the second quarter last year. Sales in our boutiques were exceptional with comparable sales growth of 60% from fiscal 2021, whilst exceeding pre-pandemic levels with retail comps growing 14% from fiscal 2020,” said Brian Hill, Founder, Chief Executive Officer and Chairman.

“The strength of our business across all geographies and all channels continues through the start of the third quarter. Looking ahead, expansion in the United States will be a leading driver of our growth. We are confident that eCommerce will continue to grow even on the back of 89% growth last year. Retail has surpassed our most optimistic expectations and is continuing to trend above pre-pandemic levels, now and for the foreseeable future. The performance of our new boutiques continues to outperform our expectations with significant investment focused on the United States, further fueling our brand awareness and multi-channel business. I remain incredibly grateful for the enduring loyalty of our clients and the effort of our team and their unwavering commitment to delivering Everyday Luxury,” concluded Mr. Hill.

Second Quarter Highlights

  • Net revenue increased by 74.9% to $350.1 million from Q2 2021 and 45.1% from Q2 2020
  • eCommerce revenue increased by 48.7% to $130.4 million from Q2 2021 and 171.1% from Q2 2020, comprising 37.3% of net revenues in Q2 2022
  • Retail revenue increased by 95.3% to $219.6 million from Q2 2021 and 13.8% from Q2 2020, achieving double digit comparable sales growth compared to pre-COVID Q2 2020
  • Gross profit margin increased to 44.6% from 35.2% in Q2 2021 and 39.6% in Q2 2020
  • Adjusted EBITDA increased to $72.9 million from $12.3 million in Q2 2021 and $36.4 million in Q2 2020
  • Adjusted Net Income of $0.39 per diluted share, compared to $0.01 per diluted share in Q2 2021 and $0.18 per diluted share in Q2 2020

Aritzia is a vertically integrated design house with an innovative global platform, home to an extensive portfolio of exclusive brands for every function and individual aesthetic. Founded in 1984, in Vancouver, Canada, and now offer 100+ boutiques throughout North America.

 

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