The Globe and Mail reports in its Saturday edition that Americans are snapping up Aritzia's Super Puff jackets and Sweatfleece hoodies as the Vancouver-based retailer's expansion gains traction. The Globe's David Berman writes the success beyond Aritzia's home base is stoking hopes for further gains in the United States and perhaps elsewhere. However, the stock is no bargain. It is up nearly 64 per cent so far this year and holding onto a premium valuation for a retailer. It trades at nearly 29 times estimated earnings from analysts over the next 12 months, compared with a forward price-to-earnings of about 14 for Lululemon. That is also more than Google parent Alphabet, which trades at less than 25 times estimated earnings. Aritzia's steep valuation might give some investors pause. The company's strong financial results in its most recent fiscal quarter points to the sort of growth that makes the P/E ratio look far more acceptable -- perhaps even reasonable. Consider that net income increased by a dazzling 263 per cent over the same period last year, and handily exceeded analysts' estimates. There are now 68 Aritzia boutiques in the U.S., and is on track to open six additional stores over the next couple of months.