Aritzia reports strong Q3 profit, revenue growth

Canadian womenswear brand Aritzia has reported strong revenue and profit growth in the third quarter of the year as it continues to thrive during the pandemic.

In the three months to November 28, the brand posted revenue of 453.3 million Canadian dollars, representing a 62.9 percent increase compared to last year and a 69.6 percent increase compared to two years ago.

The company reported e-commerce sales of 148 million dollars, which was 46.9 percent higher than the previous year and 162.2 percent higher than two years prior.

Meanwhile, its retail revenue came in at 305.3 million dollars, up 72 percent year-over-year and up 44.8 percent year-over-two-years.

Founder and CEO Brian Hill hailed the company’s “unprecedented” sales momentum in the US, where net revenue was up 115.1 percent from the prior year to 198.7 million dollars.

He said the company “has never been stronger or better positioned for growth”.

Aritzia made a net income of 64.9 million dollars in the quarter, 112.9 percent higher than the previous year.