Aritzia sales buoyed by strong progress in e-commerce

In the fourth quarter ended February 28, 2021, Aritzia achieved net sales of $267.5 million, compared to $275.4 million in the same period in the previous year. This decrease was primarily due to a decline of $57 million in retail revenue related to 39 government-mandated store reclosures and a decrease of $18 million related to restrictions at open boutiques.

Quarterly net income at the company came to $16.1 million, compared to $21.7 million in the prior-year period.

“Our financial results for the fourth quarter demonstrated the strength of our multi-channel business and the growing affinity for our brand,” commented Aritzia founder, CEO and chairman Brian Hill in a release. “Despite the government-mandated reclosure of 39% or 39 of our boutiques for the majority of the quarter, we delivered net revenue of $267.5 million, representing 97% of last year’s revenue.”

For the full fiscal year, Aritzia reported net revenue of $857.3 million, down 12.6% from $980.6 million in the previous year, largely due to a 42.8% decline in retail revenue. Annual e-commerce revenue increased 88.3% to $425.9 million, accounting for 49.7% of net revenue, compared to $226.2 million, or 23.1% of net revenue, last year.

Read more….