Aritzia Q1 FY21: sales down to $111 mn; net loss $26 mn

Fashion

13 Jul `20

2 min read

Aritzia, a Canada-based women's online fashion boutique, reported 43.4 per cent revenue decline to $111.3 million (Canadian dollar) in first quarter (Q1) FY21 that ended on May 31, 2020 compared to $196.6 million in same period prior year. Company incurred a net loss of $26.4 million during the quarter compared to net income of $16.1 million in Q1 FY20.

Aritzia, a Canada-based women`s online fashion boutique, reported 43.4 per cent revenue decline to $111.3 million (Canadian dollar) in first quarter (Q1) FY21 that ended on May 31, 2020 compared to $196.6 million in same period prior year. Company incurred a net loss of $26.4 million during the quarter compared to net income of $16.1 million in Q1 FY20.#

Gross profit for the quarter fell to $13.0 million (Q1 FY20: $85.5 million). Loss from the operations for Q1 FY21 were $31.4 million compared to income from operations were $28.7 million in same period prior year.

Aritzia, a Canada-based women`s online fashion boutique, reported 43.4 per cent revenue decline to $111.3 million (Canadian dollar) in first quarter (Q1) FY21 that ended on May 31, 2020 compared to $196.6 million in same period prior year. Company incurred a net loss of $26.4 million during the quarter compared to net income of $16.1 million in Q1 FY20.#

“The first two weeks of the quarter, we saw a meaningful decline in our sales leading up to the closure of our 96 boutiques on March 16. We took immediate action to drive e-commerce revenue and manage expenditures to maintain liquidity and preserve our solid financial position,” Brian Hill, founder, chief executive officer and chairman, said in a press release.

Aritzia, a Canada-based women`s online fashion boutique, reported 43.4 per cent revenue decline to $111.3 million (Canadian dollar) in first quarter (Q1) FY21 that ended on May 31, 2020 compared to $196.6 million in same period prior year. Company incurred a net loss of $26.4 million during the quarter compared to net income of $16.1 million in Q1 FY20.#

“Our beautiful product assortment, best-in-class distribution centre operations, aspirational website and loyal clientele led to eCommerce growth in excess of 150 per cent through to the end of the quarter,” Hill said.

Favourite Print this story Comments Submit Press Release