Initiating its fiscal year sales outlook, Aritzia Inc. stated that a US expansion and updated fashions are aiding in the company’s efforts to win back clients lost to the pandemic.
According to a statement released on Thursday, the Vancouver-based company projects fiscal-year revenue of between C$2.52 billion and C$2.62 billion ($1.84 billion and $1.92 billion). The top end reflects growth of 8% to 12% and is in line with the average analyst prediction of C$2.62 billion. The improvement will be fueled by the growth of real estate and e-commerce, according to Chief Executive Officer Jennifer Wong.
With revenue of C$682 million, fourth-quarter earnings per share, excluding certain factors, were C$0.34, exceeding the average expert expectation of C$0.32.
It’s attempting to win back shoppers with new stores, including flagships in New York City and Chicago, and new styles. The stock has rallied 31 per cent this year through Thursday’s close.
“Although the consumer environment remains mixed, clients responded well to our product launches and to the improved level of newness in our assortment,” Wong said.
The fashion chain expects to open 11 to 13 boutiques this fiscal year. It opened five boutiques in fiscal 2024.