Aritzia Inc., a Vancouver-based clothing company, has seen a significant boost in its financial performance for the third quarter. The company reported a notable increase in net income, reaching $138.9 million compared to $74.1 million in the same period last year.
Moreover, the net income per diluted share rose to $1.16 from 63 cents in the previous year, showcasing a substantial growth trajectory. Aritzia’s net revenue also experienced a substantial surge, climbing by 42.8% to $1.04 billion in the third quarter, up from $728.7 million in the same period a year ago.
Adjusted net income for the company stood at $131.2 million, indicating a noteworthy rise from $83 million in the previous year’s third quarter. Aritzia attributes these impressive results to the positive reception of its digital initiatives, including the successful launch of its app, new boutique openings, and strategic marketing investments.
CEO Jennifer Wong highlights the company’s success in the U.S. market, with net revenue soaring by 53.8% during the period, totaling $621.1 million and constituting nearly 60% of its total revenue.