Aritzia's net income falls as the retailer works to set itself up for future growth

Aritzia Inc.'s net income fell by 58 per cent in its latest fiscal year, which the retailer's chief executive said was spent laying the groundwork for the business's rebound.

In its fourth quarter, which ended March 3, net income fell 35 per cent to $24.2 million compared with $37.3 million a year ago. That amounted to 21 cents per diluted share, down from 32 cents per diluted share. That progress included the expansion of its distribution centre network, which now has a 550,000 square-foot facility in Vaughan, Ont., and moves to revamp its inventory strategy and digital sales channels.

During the quarter, its net revenue linked to its U.S. business rose 9.4 per cent to $369.1 million, as overall net revenue reached $682 million, up seven per cent from the year prior.Store openings can help with e-commerce, Wong said."So the new store openings ... are a proven consistent, most predictable driver of sales."

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Aritzia's net income falls as the retailer works to set itself up for future growthAritzia Inc.'s net income fell by 58 per cent in its latest fiscal year, which the retailer's chief executive said was spent laying the groundwork for the business's rebound.
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Aritzia's net income falls as the retailer works to set itself up for future growthAritzia Inc.'s net income fell by 58 per cent in its latest fiscal year, which the retailer's chief executive said was spent laying the groundwork for the business's rebound.
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