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Aritzia Q4 FY20: revenue grows 6.3%; net income $22 mn

04
Jun '20
Pic: Aritzia
Pic: Aritzia
Aritzia Inc, Canada-based women's online fashion boutique, reported its net revenue grew 6.3 per cent to $275.4 million (Canadian dollars) in fourth quarter (Q4) fiscal 2020 ended on March 1, 2020 compared to revenue of $259.1 million in same period prior year. Net income for the reported quarter jumped 16 per cent to $21.7 million (Q4 FY19: $18.7 million).
 
“Our financial results for the fourth quarter demonstrated the strength of our business model and the affinity for our brand. Towards the end of February, we began to see the impact of Covid-19 on our business,” Brian Hill, founder, chief executive officer and chairman at Aritzia, said in a press release.
 
Gross profit for the quarter grew 9.6 per cent to $102.8 million ($93.8 million). Selling, general and administrative expenses were $64.3 million (59.3 million).
 
Company stated that during Q4 FY20 it achieved e-commerce penetration of 23 per cent driven by strong growth in both traffic and transactions in Canada and the United States.
 
In its outlook for the first quarter fiscal 2021, company expects net revenues to be in the range of $105-$110 million. This reflects two weeks of decelerating retail revenues in March prior to temporary boutique closures and strong e-commerce revenues for the quarter.

Fibre2Fashion News Desk (JL)


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