VANCOUVER — Aritzia Inc. says it incurred an almost $6 million net loss in its latest quarter as its chief executive admitted the financial results do not meet its "high standards."
The Â鶹´«Ã½Ó³»apparel company says the net loss in the second quarter compared with a net income of $46 million during the same period the year before.
Aritzia's net loss amounted to five cents per diluted share for the period ended Aug. 27 compared with a net income of 40 cents per diluted share a year earlier.
On an adjusted basis, its net income totalled $3.4 million compared with $50.6 million a year prior.
Chief executive Jennifer Wong says the quarter was hampered by the company missing opportunities in its product assortment and a more difficult consumer environment.
However, she says the company's performance was better than expected as it managed to eke out $534.2 million in net revenue, up from $525.5 million a year ago.
This report by The Canadian Press was first published Sept. 28, 2023.
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The Canadian Press
