VANCOUVER — Aritzia Inc. says it expects to grow its net revenue to between $9.5 billion and $10.5 billion in its 2032 financial year as part of its five-year strategic plan to double its customer base. The Vancouver-based retailer said the target represents a 15 per cent to 17 per cent compounded annual growth rate. Aritzia CEO Jennifer Wong said the business in the United States is delivering exceptional results and will remain its primary growth market. “At the same time, we will begin taking an important step toward our long-term ambition of becoming famous around the world,” she said in a news release. “We believe our unique strengths, long-term mindset and much-loved everyday luxury experience position us to deliver sustained, profitable growth and enduring value for our shareholders.” Part of Aritzia’s plan will entail opening 12 to 14 stores annually in the United States through its 2032 financial year as it also looks to expand its reach beyond Canada and the United States. It is aiming to have 220 total stores by the end of that year. In the past 12 months, the company has opened 14 new boutiques, which are generating higher sales per square foot than past cohorts of stores. Aritzia previously revealed plans for six more locations in Florida, Georgia, Massachusetts, Nevada and Texas. The retailer is also looking to expand five to seven stores annually, saying it “will capitalize on premier real estate opportunities.” It has already been taking over larger sites, expanding its average store size from 6,000 square feet in 2016. Now, the target for some locations is 10,000 square feet and flagships can be more than 30,000 square feet. Meanwhile, the company said it is planning to expand the breadth of its offerings for customers in order to capture additional share of closet. Product expansion categories are expected to contribute around $1.5 billion in incremental net revenue by its 2032 financial year. Aritzia is targeting $4.1 billion to $4.5 billion in North America digital net revenue in 2032, with growth expected to be driven by product expansion, continued investment in digital marketing, the introduction of a loyalty program and ongoing improvements to the company’s digital ecosystem. Earnings per share growth is expected outpace revenue growth, the company said. RBC analyst Irene Nattel said the targets “look highly achievable” and “likely somewhat conservative.” “We continue to view substantial upside in (Aritzia’s) share price as the company executes on its growth plan,” she said in a note. Earlier this month, Aritzia reported that its second-quarter earnings roughly tripled from last year. Its net income for the period ended Aug. 30 increased by 204 per cent from last year to $201.7 million, which amounted to $1.70 per diluted share compared with 56 cents a year before. Wong said Aritzia, which is also behind the TNA, Wilfred, Reigning Champ and Babaton brands, is managing to reach its fourth generation of shoppers — a wide swath of consumers who don’t all fit a single customer profile. She attributed some of the brand’s recent momentum to an app Aritzia launched almost a year ago, which has significantly boosted digital sales, and the broad appeal of the retailer’s merchandise. --- This report by The Canadian Press was first published Oct. 27, 2026.
