By Canadian Press

Retailer Aritzia’s Q4 net income fell by 35%, net revenue up 7%

May 2, 2024 | 1:28 PM

VANCOUVER — Aritzia Inc. says its net income fell 35 per cent in its fourth quarter as its revenue grew.

The Vancouver-based retailer says its net income for the period ended March 3 totalled $24.2 million compared with $37.3 million a year ago. 

Its net income amounted to 21 cents per diluted share compared with 32 cents per diluted share a year earlier.

Aritzia partially attributed the drops to an increase in stock-based compensation expenses, but also noted the quarter was affected by inflation and pre-opening lease amortization costs for its flagship boutiques.

Its net revenue for the quarter was about $682 million, up seven per cent from the year prior.

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Net revenue linked to its U.S. business rose 9.4 per cent to $369.1 million, but Aritzia’s e-commerce net revenue fell 3.2 per cent to $265.6 million.

This report by The Canadian Press was first published May 2, 2024.

Companies in this story: (TSX:ATZ)

The Canadian Press