The Globe and Mail reports in its Friday edition that Aritzia more than tripled its profits in the second quarter, as the fashion retailer's growth continued to be fuelled by its strong performance in the United States. The Globe's Susan Krashinsky writes that on Thursday, the Vancouver-based retailer reported net income of $66.3-million in the quarter ended Aug. 31, representing a 263-per-cent jump from the same period last year, when the company's net income was $18.2-million. Per share, net income was 56 cents a diluted share, compared with 16 cents in the prior year. Aritzia's sales grew in both its stores and on-line, and in all geographies where it operates. The retailer has been expanding its presence south of the border, where the brand has seen increased awareness among shoppers. The U.S. market accounted for roughly 60 per cent of Aritzia's sales in the quarter. Revenue in that market grew by 41 per cent. "We see a ton of runway in the U.S.," chief executive officer Jennifer Wong told analysts on a call Thursday. Aritzia currently has 68 American locations, and Ms. Wong said she believes the retailer could eventually reach 180 to 200. Net revenue grew to $812-million, up 32 per cent from last year.
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