The Aritzia flagship store located at 50 Bloor St W in Toronto.Carlos Osorio/The Globe and Mail
Aritzia Inc. says it has seen 18 consecutive quarters of comparable sales growth as its net income jumped nearly 18 per cent during its most recent quarter.
The Vancouver-based company says its net income for the fourth quarter was $18.72 million up 17.7 per cent from $15.9 million the same quarter the previous year.
Aritzia says its adjusted net income for the quarter rose 11.5 per cent to $25.1 million or 21 cents per diluted share compared to $22.5 million or 19 cents per diluted share at the same time last year.
The clothing retailer reports its comparable sales grew 5.5 per cent for the quarter ended March 3, primarily due to momentum in its e-commerce business, and positive performance in Canadian and American stores.
Net revenue increased 17.9 per cent to $259.1 million, up from $219.8 million in the fourth quarter of the previous year.
CEO Brian Hill says in a statement that the company is well positioned to achieve or exceed its performance targets for its 2021 financial year.