Aritzia Q2 comp sales, revenues climb

By

Jennifer Braun

Published
Oct 13, 2022

Canadian fashion retailer Aritzia announced on Wednesday a 50% surge in net revenues for the second quarter, due to strong growth across all channels and geographies.

The Vancouver-based company said net revenues for the second quarter fiscal 2023 ended August 28, 2022, increased 50.1% to C$525.5 million, following comparable sales growth of 28.43% compared to the same quarter last year.

Retail revenue increased 60.1% to $351.6 million from Q2 2022, while e-commerce revenue increased 33.3% to $173.9 million. By region, U.S. revenue increased 79.8% to $263.2 million from Q2 2022. 

"Our exceptional sales momentum extended through the second quarter of fiscal 2023, delivering net revenue growth of 50%. Better than anticipated results were driven by an outstanding client response to our beautiful product assortment, as our everyday luxury experience continues to resonate across all geographies and all channels," said Jennifer Wong, chief executive officer. 

"Our performance in the United States continued to surge, with revenue growth of 80%, as our existing and new boutiques once again outperformed expectations, underscoring our growing brand awareness. Our e-commerce business in USA and Canada grew at 33%, further fueling our multi-channel business.”

Year-to-date, net revenue increased by 56.4% to $933.4 million, compared to $597 million in YTD 2022. In particular, the company has seen an unprecedented acceleration of sales in the United States, where net revenues increased by 80.3% to $470 million, compared to $260.6 million in YTD 2022.

Looking ahead, Aritzia is on track to deliver net revenue in the range of $565 million to $590 million in Q3 2023, representing an increase of approximately 25% to 30% from last year. 

"Our strong performance has continued through the start of the third quarter, with robust client demand across all product categories. Looking forward, we believe that we remain well positioned for long-term success, as we strategically invest in the infrastructure that will allow us to capitalize on our growth strategies. I am extremely grateful for our loyal and growing client base and our world-class teams' dedication to excellence, which are enabling us to exceed our goals," added Wong.