Aritzia Inc.‘s net income almost tripled in its latest quarter as the company reaped the benefits of its U.S. expansion and pleased customers closer to home.
The Vancouver-based apparel retailer reported Thursday that its first quarter net income reached $117.3 million, up from $42.4 million during the same period last year. That amounted to 99 cents per diluted share compared with 36 cents a year before.
The increases came in part because the company has opened or renovated 19 boutiques in the last year and nailed what the customer was looking for.
“The assortment is fantastically balanced between client favourites and newness,” chief executive Jennifer Wong explained on a call with analysts.
“We absolutely have the right product in the right place at the right time.”
Aritzia’s tremendous level of growth comes despite the continuation of the tariff war, shipping blockages in the Middle East and consumer anxiety about both weighing on purchases.
Aritzia has not been unscathed but has mostly breezed through the hardships because it’s picked up its marketing efforts, launched a new app and expanded deeper into the U.S., where it’s having no trouble luring in customers.
That was reflected in its first quarter net revenue, which grew by 43 per cent to $951 million, compared with $663.3 million a year earlier.
While its Canada net revenue alone was up 25 per cent, it was its U.S. net revenue that was the star, surging more than 54 per cent to $638.1 million.
“Obviously, our growth is driven by the U.S., but we’re super pleased with the trends that we’re seeing in Canada,” Wong said.
“Our performance continues to be strong, and it has been trending strong the last several quarters. We’re not seeing anything in our data that indicates a trend otherwise right now.”
Wong said the strength the company reported Thursday in its first quarter, which wrapped at the end of May, has continued ever since.
“I’ve never been more confident in the business as I am right now,” she said. “We are very well set up with all of the elements to continue to drive the strength.”
In its second quarter, Aritzia will open three more boutiques in the U.S. The stores will bring the brand into three new markets — Birmingham, New Orleans and St. Louis.
Over the course of this fiscal year, Aritzia expects its net revenue to rise between 23 and 28 per cent from last year to somewhere between $4.55 billion and $4.75 billion.
The growth will be fuelled by the opening of 12 to 13 new boutiques — mostly in the U.S. — and renovations or relocations that will span up to five more existing locations.
This report by The Canadian Press was first published July 9, 2026.
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