More Aritzia Q1 results

|About: Aritzia Inc. (ATZAF)|By:, SA News Editor

Aritzia (OTC:ATZAF) reports Q1 comparable sales increased 10.9% Y/Y, driven by eCommerce business as well as strong performance in the stores.

Net sales increased 15.1% reflecting addition of six new stores and eight expanded or re-positioned stores.

Gross margin increased 77bps to 40.4% primarily due to strengthening of Canadian dollar, improved product, and was partially off-set by higher warehousing and distribution costs.

Adjusted EBITDA margin improved 50bps to 17%.

During the quarter, the company reduced the term credit facility from C$118.7M to C$75M and increased revolving credit facility from C$70M to C$100M.

Previously: Aritzia  beats by C$0.02, beats on revenue (July 11)

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