The Globe and Mail reports in its Thursday edition that Aritzia's net income dropped by 39 per cent to $43.1-million in its most recent quarter but its net revenue edged up by almost 5 per cent. A Canadian Press dispatch to The Globe says that the Vancouver-based apparel retailer says its third-quarter results compared with a net income of $70.7-million a year prior. Net income for the period ended Nov. 26 amounted to 38 cents per diluted share compared with 61 cents per diluted share in the third quarter of the prior year. Net revenue reached $653.5-million, up from $624.6-million a year earlier. During the quarter, the company says it used higher markdowns to optimize its inventory levels and incurred preopening lease amortization costs for flagship boutiques. However, the company benefited from lower warehousing and freight costs. Its adjusted net income was $52.7-million, a 31-per-cent drop from $76.6-million in the third quarter of its fiscal 2023. Aritzia closed Wednesday at $26.46, up 19 cents on the Toronto Stock Exchange.