Aritzia reports record third-quarter revenue

Aritzia reports record third-quarter revenue

Canadian fashion retailer Aritzia announced on Wednesday a 37.8% increase in net revenue for the third quarter, due to continued growth across all channels and geographies.

Aritzia reports record third quarter revenue. – Aritzia

The Vancouver-based company said net revenues for the third quarter fiscal 2023 ended November 27, 2022, jumped to a record $624.6 million. By region, U.S. revenue increased 57.8% to $313.5 million from Q3 2022. 

In particular, retail net revenue increased 38.6% to $423.2 million from Q3 2022, while eCommerce net revenue increased 36.1% to $201.4 million, comprising 32.2% of net revenue in Q3 2023. 

“The outstanding momentum in our business continued through the record-breaking third quarter of fiscal 2023, resulting in net revenue of $625 million, the highest of any quarter in Aritzia’s history,” said Jennifer Wong, chief executive officer.

“All geographies and all channels contributed to our better than anticipated results, fueled by a tremendous client response to our collection of beautiful products and our everyday luxury experience.”

Year-to-date, net revenue increased by 48.3% to $1.6 billion, compared to $1.1 billion in YTD 2022. The increase in revenue was led by “outstanding performance” of its existing and new boutiques in the United States and Canada leading to a retail net revenue increase of 59.1% to $1.1 billion, compared to $667.9 million in YTD 2022. Likewise, e-commerce net revenue increased by 29.6% to $495.4 million, compared to $382.4 million in YTD 2022.

Looking ahead, Aritzia said it is on track to deliver net revenue in the range of $2.14 billion to $2.16 billion for fiscal 2023, representing an increase of approximately 44% from fiscal 2022. 

“Our strong performance has carried into the fourth quarter to date, with client demand balanced across our product assortment. Looking ahead, we will continue to strategically invest in the infrastructure that will allow us to execute on our long-term growth plan and beyond. I am extraordinarily proud of our team of world-class talent, whose dedication to excellence and hard work is propelling us toward our goals,” added Wong.

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