Aritzia reports record revenue in Q3 as profits widen

Canadian womenswear brand Aritzia has reported a 37.8 percent increase in Q3 revenue to 625 million Canadian dollars (around 465 million US dollars), its strongest quarter ever.

That was driven by the US market, with revenue up 57.8 percent to 313.5 million Canadian dollars, comprising 50.2 percent of overall revenue.

Breaking it down by channel, retail revenue was up 38.6 percent to 423.2 million Canadian dollars, while e-commerce revenue rose 36.1 percent to 201.4 million Canadian dollars.

“All geographies and all channels contributed to our better than anticipated results, fueled by a tremendous client response to our collection of beautiful products and our Everyday Luxury experience,” said CEO Jennifer Wong in a statement.

Net income for the quarter widened to 70.7 million Canadian dollars from 64.9 million Canadian dollars a year earlier.

“Our strong performance has carried into the fourth quarter to date, with client demand balanced across our product assortment,” Wong continued.

Looking ahead, she said the company will continue to strategically invest in the infrastructure “that will allow us to execute on our long-term growth plan and beyond”.