Aritzia Inc.’s US sales grew more than expected over the past three months, showing the Canadian retailer’s aggressive expansion southward is succeeding.
The clothing chain posted American sales of 413 million Canadian dollars ($301.39 million) in its fiscal first quarter, according to a statement Thursday. That’s the second straight quarter of growth above 45 percent and higher than the 405 million Canadian dollars analysts expected.
Tapping into the vast US market is a key focus for Aritzia as it chases faster growth. The American market now accounts for 62 percent of its revenue after store renovations helped to attract and retain customers. Sales in Canada grew just 17 percent in the quarter.
“We still have a long runway for growth in the United States,” chief executive officer Jennifer Wong said in the statement.
Aritzia said its profit is being impacted by higher US tariffs. It expects to open 11 stores in the US this fiscal year.
By Lara Sanli
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