Canadian fashion retailer Aritzia Inc. reported a significant rise in its first-quarter profits, more than doubling year-over-year, driven by strong sales of its spring and summer collections. The Vancouver-based company also raised its revenue forecast for the full year, citing robust demand and ongoing expansion efforts.

For the quarter ending May 31, Aritzia posted net income of $117.3 million, or 99 cents per diluted share, compared with $42.4 million, or 36 cents per diluted share, in the same quarter last year. Total revenue grew 43 percent to $951 million, while comparable sales—measuring performance in stores open at least one year—increased by 35 percent.

Chief Executive Officer Jennifer Wong attributed the company’s success primarily to its product offerings, emphasizing the importance of balancing new styles with popular recurring items. "Product is central, and it’s the heart of what we do, and we’ve gotten the product right," Wong said during a conference call. She highlighted the company’s agility in adjusting inventory mid-season to meet consumer demand, which helped reduce the reliance on markdowns.

Aritzia has seen particularly rapid growth in the United States, which accounted for about two-thirds of its revenues in the quarter. While Canadian net revenue grew by 25 percent, sales in the U.S. outpaced the domestic market. The company is actively expanding its presence in the U.S., planning to open 12 to 13 new stores this year along with four to five renovations or relocations of existing locations, most of which will be stateside.

The company also noted that its retail spaces are increasing in size, with new stores averaging more than 10,000 square feet compared to roughly 6,000 square feet a decade ago. Larger store formats contribute to higher sales per location. Furthermore, new store openings appear to boost nearby e-commerce sales by approximately 70 percent within their first year, according to Chief Financial Officer Todd Ingledew.

Supporting its growth strategy, Aritzia recently inaugurated a new distribution center in British Columbia to enhance logistics and supply chain capabilities. The company reported that new stores are recouping their initial investment in under a year on average, outperforming earlier expectations of a 12- to 18-month payback period.

Reflecting confidence in the company’s trajectory, Wong raised Aritzia’s full-year sales guidance, projecting revenue growth of 23 to 28 percent, with total sales ranging between $4.55 billion and $4.75 billion. This outlook marks an increase from previous estimates of $4.4 billion to $4.6 billion.

“I’ve never been more confident in the business than I am right now,” Wong stated, underscoring the momentum behind Aritzia’s ongoing expansion and product appeal.