Growing the corporate’s footprint has a “halo impact,” Wong mentioned.
“After we open a brand new retailer and a brand new market … the entire buzz across the flagship openings and the advertising round that does drive visitors to the e-commerce website,” she mentioned.
Gross sales sluggish in Canada—with one exception
What Aritzia noticed within the U.S., nevertheless, stood in distinction to Canada, the place internet income declined 0.6% year-over-year to $325 million.
Aritzia attributed the decline in income development in Canada to its annual warehouse sale, which this 12 months was held within the second quarter as an alternative of the third quarter. The latest sale introduced in $10 million in retail internet income in Canada.
It additionally identified that the market was affected by the dearth of a digital archive sale, which wasn’t held this 12 months however has pushed gross sales in previous years.
Canadian customers have been grappling with the aftermath of a spike in inflation and rate of interest hikes to tamp it down, which induced many to chop again on discretionary spending.
Inflation continued to ease in 2024, organising the corporate for a Black Friday that chief monetary officer Todd Ingledew mentioned “broke all information.”
Within the third quarter, which ended Dec. 1 and spanned the beginning of the vacation procuring interval, Aritzia’s revenue amounted to 63 cents per diluted share, in comparison with 38 cents per diluted share within the third quarter of its 2024 fiscal 12 months.