An Aritzia store is seen in Montreal, Tuesday, July 13, 2021. THE CANADIAN PRESS/Ryan Remiorz
May 02, 2024 - 1:24 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.
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.
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News from © The Canadian Press, 2024