(Vancouver) Aritzia posted a net loss of nearly $6 million for its most recent quarter on Thursday, and its CEO admitted that this result did not meet her “high level of expectations.”
The Vancouver-based clothing retailer said its second-quarter net loss compared with a net profit of $46 million for the same period last year.
Net loss per share was 5 cents for the quarter ended August 27, which compared with net income of 40 cents per share for the second quarter of 2022.
On an adjusted basis, net profit stood at 3.4 million, compared to 50.6 million a year earlier.
CEO Jennifer Wong noted that the quarter was undermined by missed opportunities across the company’s product line and a more challenging consumer environment.
However, she added that the company’s performance had been better than expected as it had managed to grow its net revenues to 534.2 million, compared to 525.5 million in the second quarter of the year. last year.