Aritzia (ATZ) Q4 2026 earnings summary

Executive summary

• Achieved record Q4 net revenue of CAD 1.2 billion (USD 1.19 billion), up 33% year-over-year, with broad-based growth across all geographies and channels.

• U.S. net revenue grew 38% in Q4 and 43.8% for the year; Canada up 24% in Q4 and 23.4% for the year, driven by new boutiques, digital momentum, and strong brand affinity.

• Comparable sales increased 28% in Q4, building on 26% growth in the prior year.

• Strategic focus on geographic expansion, digital growth, and increased brand awareness continues to propel performance.

• Fiscal 2027 is off to a strong start, with momentum continuing into Q1.

Financial highlights

• Q4 2026 net revenue rose 32.6% to $1,186.5M; FY2026 net revenue up 35.2% to $3,702.1M.

• Q4 net income increased 34.8% to $134.3M; FY2026 net income up 83.8% to $381.8M.

• Adjusted EBITDA for Q4 2026 grew 37.1% to $220.5M; margin expanded 60 bps to 18.6%.

• Gross profit margin improved to 43.3% in Q4 2026 and 44.9% in FY2026.

• Free cash flow in FY2026 surged to $487.1M from $95.6M in FY2025.

• Inventory ended at $495.2M, up 30.5%, aligned with sales growth.

• Liquidity: $592.1M in cash, no debt, and $300M+ undrawn credit facility.

• Repurchased 1.37M shares for $144.9M in fiscal 2026.

Outlook and guidance

• Q1 fiscal 2027 net revenue expected at $900–$925M, up 36–39% year-over-year.

• Full-year fiscal 2027 net revenue forecasted at $4.4–$4.6B, up 19–24%.

• Gross profit margin expected to rise 150–200 bps for the year, with Q1 margin up 225–275 bps.

• Adjusted EBITDA margin expected at ~19%.

• CapEx for fiscal 2027 projected at $250M, mainly for new and repositioned boutiques.

• Plan to open 12–13 new boutiques and reposition 4–5 in fiscal 2027.