Aritzia boasts big profits
The Canadian Press - May 09, 2019 - BC Biz

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VANCOUVER — Canadian clothing retailer Aritzia Inc. touted strong sales as it eyes more opportunities for growth in its online and American businesses.

“We’re extremely pleased with our results,” said CEO Brian Hill during a conference call with analysts Thursday after the company released its fourth-quarter and full-year fiscal 2019 earnings report.

The Vancouver-based company achieved its 18th consecutive quarter of comparable sales growth, which jumped 5.5 per cent, and a three-year stacked comparable sales growth figure of 23.8 per cent.

That growth came primarily from momentum in its e-commerce business, as well as performance in its Canadian and American stores.

The company’s digital marketing efforts increased traffic to its e-commerce business by 34 per cent in the fourth quarter, which ended March 3, and by 38 per cent for the fiscal year, said president Jennifer Wong during the call. She highlighted search engine optimization enhancement, enhanced website features and functionality, and sharing clients’ product reviews on the website.

These initiatives are already yielding results, Hill said, and the company expects to continue to see strong momentum in this channel during its 2020 financial year.

Over the past six months, the company’s been working to add products that will only be sold online, he said.

It’s looking at new categories to introduce, like fragrance, swim or lingerie, he said, as well as possibly adding new fashion labels to target different types of customers.

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