Aritzia Inc.’s retail business has become a tale of two consumers, as momentum sags among Canadian shoppers while American clients continue to fuel the clothing chain’s growth.
“Ultimately, we started to see a bifurcation in the second quarter, mainly due to the U.S. momentum,” chief executive officer Jennifer Wong told analysts on a call Thursday to discuss the results. Aritzia reported its net revenue increased by 15.3 per cent in the second quarter, to $615.7-million. Comparable sales – an important industry metric that tracks sales growth that removes the impact of new store openings – grew by 6.5 per cent in the quarter.
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