Aritzia shares tumble as much as 13% despite record quarterly sales
https://ca.finance.yahoo.com/news/aritz ... 40428.html
Aritzia Inc. (ATZ.TO) shares fell as much as 13 per cent on Thursday, despite posting record quarterly sales, as higher inventory levels weigh on investor sentiment.
The Vancouver-based clothing retailer announced its quarterly results on Wednesday and said net sales in the third quarter ended Nov. 27 reached $624.6 million, the highest of any quarter in the company's history and an increase of 38 per cent compared to the same period last year. Strong sales in the United States – where 50 per cent of Aritzia's sales now come from – and e-commerce growth fuelled the record results. Just two years ago, the U.S. represented 33 per cent of the company's total sales.
Despite the strong sales momentum, Aritzia's stock fell on Thursday. Shares of the clothing company closed the trading day on the Toronto Stock Exchange at $46.16 a share, a decline of 10 per cent compared to Wednesday's close.
Aritzia shares tumble as much as 13% despite record quarterly sales
Re: Aritzia shares tumble as much as 13% despite record quarterly sales
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Re: Aritzia shares tumble as much as 13% despite record quarterly sales
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