Aritzia Q3 FY21 revenue grows 4.1% to $278 mn

18 Jan '21

2 min read

Pic: Shutterstock

Aritzia, a Canada-based women's online fashion boutique, has reported 4.1 per cent revenue growth to $278.3 million (Canadian dollar) in its third quarter (Q3) FY21 that ended on November 29, 2020 compared to the revenue of $267.2 million in same period prior year. Company net income for the period was down to $30.5 million (Q3 FY20: $34.8 million).

Gross profit for the quarter rose to $126.0 million ($119.5 million). Company’s income from the operations for Q3 were $48.0 million ($54.4 million). E-commerce revenue during the quarter increased 78.5 per cent.

“We are extremely pleased with our third quarter performance. Our clients' enthusiastic response to our Fall/Winter product assortment demonstrates our ongoing ability to adapt to their changing lifestyle,” Brian Hill, founder, chief executive officer and chairman, said in a press release.

"Performance in our e-commerce channel has sustained its momentum in the fourth quarter to date, while our reopened boutiques have exceeded our expectations. While the resurgence of Covid-19 has led to the temporary reclosure of 39 boutiques, we are well-positioned to continue to navigate the uncertainty,” Hill said.

“Looking ahead, we remain focused on the execution of our growth strategies including driving digital innovation of e-commerce and omni, geographic expansion, product development, and brand awareness, while continuing to invest in infrastructure including our world-class talent,” Hill said in the release.

Fibre2Fashion News Desk (JL)

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