Aritzia reports strong Q1 revenue growth, US shines

Canadian womenswear brand Aritzia has reported a 65.2 percent increase in revenue in the first quarter of the year.

In the three months to May 29, the brand posted revenue of 407.9 million Canadian dollars, up from the 246.9 million Canadian dollars it reported the previous year.

Its US revenue increased 81 percent to 206.8 million Canadian dollars and comprised 50.7 percent of total revenue in the quarter.

E-commerce revenue was up 15.5 percent to 120.1 million Canadian dollars, while retail revenue increased 101.3 percent to 287.8 million Canadian dollars.

Aritzia posted a net income of 33.3 million Canadian dollars, up from 17.9 million Canadian dollars a year earlier.

CEO Jennifer Wong said the strong quarter was driven by an “incredible reception” to the company’s spring-summer collections.

She said: “We saw strength across all geographies and channels, and we were particularly pleased with our ongoing momentum in the US, where revenue grew 81 percent.”

She added that the company’s new boutiques continued to outperform expectations.

In terms of current trading, Wong said the brand’s momentum continued into the second quarter despite “the challenging macro backdrop, as client demand remains strong”.