Today we’re taking a closer look at retail stock Aritzia Inc (TSX:ATZ) to see why its trending green. What’s been causing the serious momentum for the stock in 2019 so far.
Retail Stock Today: Aritzia Inc
Aritzia is a Vancouver, British Columbia-based fashion retailer. The company designs and sells various types of women’s clothing. As of late-August 2018, the company had 80 retail stores in 90 locations across the US and Canada. The retail stock also sells its products online. Originally the company was known as Aritzi Capital Corporation but changed its name in August of 2016.
A few weeks ago, the Canadian retailer announced its third quarter results for fiscal 2019 revenue. The quarter ended November 25th, 2018, just before the holiday season. Aritzia’s comparable sales increased 12.9% from the previous quarter. The company had a net revenue increase of 18.8% and a net income increase of 16.1%. Currently, 40% of the retail stock’s revenue is generated by US customers.
Aritzia Founder and CEO, Brian Hill, said that he believes the company’s fall and winter product assortment is the reason for the rise in sales. Mr. Hill said:
“Looking ahead, we are excited to build upon the momentum in our business as we continue to drive growth through strategic investments in our eCommerce business and the expansion of our premier boutique network with a strong pipeline for our next fiscal year. As we continue to leverage our powerful business model that enables us to deliver double digit revenue growth with strong operating margins, we remain confident in our ability to meet or exceed our long term objectives and create shareholder value.”
Today, the retail stock is shining green and continues to make gains in its share price. According to Yahoo Finance, ATZ stock is currently trading at $16.85 a share, up +$0.37 (+2.25%).
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