CA - Aritzia Inc. (ATZAF) Q4 2024 Earnings Call Transcript

2024-05-04 22:39:13 ET

Aritzia, Inc. (ATZAF)

Q4 2024 Earnings Conference Call

May 02, 2024, 16:30 ET

Company Participants

Beth Reed - VP, IR

Jennifer Wong - CEO

Todd Ingledew - CFO

Conference Call Participants

Mark Petrie - CIBC

Dylan Carden - William Blair & Company

Luke Hannan - Canaccord Genuity

Martin Landry - Stifel

Irene Nattel - RBC Capital Markets

Brian Morrison - TD Securities

Michael Glen - Raymond James

Mauricio Serna - UBS

Stephen MacLeod - BMO Capital Markets

Presentation

Operator

Thank you for standing by. This is the conference operator. Welcome to Aritzia's Fourth Quarter 2024 Earnings Conference Call. [Operator Instructions].

I would now like to turn the conference over to Beth Reed, Vice President, Investor Relations Please go ahead.

Beth Reed

Good afternoon, and thanks for joining Aritzia's fourth-quarter fiscal 2024 earnings call. On the call today, I'm joined by Jennifer Wong, our Chief Executive Officer; and Todd Ingledew, our Chief Financial Officer. As a reminder, please note that remarks on this call may include our expectations, future plans, and intentions that may constitute forward-looking information. Such forward-looking information is based on estimates and assumptions made by management regarding, among other things, general economic and geopolitical conditions as well as the competitive environment. Actual results may differ materially from the conclusions, forecasts or projections expressed by the forward-looking information. We refer you to our most recently filed management's discussion and analysis and our annual information form, which include a summary of the material assumptions as well as risks and factors that could affect our future performance and our ability to deliver on the forward-looking information. Our earnings release, the related financial statements, and the MD&A are available on SEDAR+ as well as the Investor Relations section of our website.

I will now turn the call over to Jennifer.

Jennifer Wong

Thanks, Beth. Good afternoon, everyone, and thank you for joining us today. For the fourth quarter of fiscal 2024, we delivered net revenue of 682 million, an increase of 7% compared to the fourth quarter of fiscal 2023. This is on top of delivering outstanding revenue growth of 44% in the fourth quarter last year. Also on top of 66% growth in the fourth quarter of fiscal 2022. All financial metrics discussed today are inclusive of the 53rd week in fiscal 2024, except for comparable sales. Comparable sales declined 3% for the quarter as we cycled a remarkable 32% increase in Q4 last year. In the U.S., our net revenue increased 9% for the quarter, while sales grew 4% in Canada in our retail channel, net revenue increased in the fourth quarter by 15%. This was driven by the progress we've made on our real estate expansion strategy. During the quarter, we opened three new boutiques, Indianapolis, Indiana, Corte Madera, California, and Roseville, California. We also opened a newly repositioned location in Skokie, Illinois thus far in Q1, we've completed the repositioning of our Oak Grove, Illinois boutique. We also opened a Reigning Champ pop-up at Yorkdale in Toronto. Finally, we plan to open a new boutique in Boca return later this month....

For further details see: