So there's a large timing shift, which is what's causing the variability quarter-to-quarter. Leave this field empty if you're human: Before that she was vice-president of support operations, manager of a shoe department and astore's assistant manager. These are all our store footprint increases. Aritzia reported a 40 per cent increase in sales revenue growth in the United States market across its e-commerce platform in its 2019 third quarter. And once again, I'm in this every day, and Todd and I have been having the most meaningful discussions we've had on inventory probably ever and as well as Jennifer and the three of us have been having these discussions. And while I know Todd has spoken about what our outlook is for gross margin for the rest of the fiscal year, we do see these being what we're calling transitory cost effects. Wongs stamina in the face of opposition and the way she fiercely embraces a challenge make her a great sparring partner for Hill. Meet Jennifer Wong, Aritzia President and COO, and here's how she proves that impact and innovation leads to retail success:. Sorry, I would just add something. She dabbled in corporate operationshuman resources, legal, finances, marketing, and technologywas named chief operations officer in 2007 and, in 2015, added president to her title. And as we've mentioned in many calls and many Q&As, we're managing our supply chain costs and our product costs and all of the inflationary costs that we're seeing as tightly and as closely as possible. In Q1, our retail business surpassed our expectations as it increased 101% from last year. Ordering Dr. Martens directly from the factory in England, she recalls, made Aritzia one of only five retailers in Canada to do so. As the Pres, COO, and Corp. Sec. Every day Im honored to work alongside a world-class team of smart, ambitious, talented women building and thriving in long-term careers, Wong shares. In addition, it sells its products through online at aritzia.com. I think it's great. Client demand is showing no signs of letting up across all geographies and all channels. In Q1, we were lapping two months of closures versus one month in Q2. We're not even convinced at this point in time, we're going to offer intimates and swim in our stores. For the first quarter, we generated net revenue of $408 million, an increase of 65% from last year. Im usually the boring one who has to say, Id never wear that. Hill and Wong have established a clean division of duties. Meaghen, I'll take that one. We're positioned very nicely where we think that we might lose some customers at the bottom, but we will certainly see some customers trading down. Jennifer Wong, who began her career at Aritzia as a . And many people dont realize the founder of the iconic brand American Apparel actually hails from Canada. Thanks. Designed for executives who want to optimize their leadership potential and continue to establish their legacy. Please go ahead. As a fashion brand that is leading with empathy, action and innovation, and an optimistic story in the retail landscape, Aritzia is experiencing success by doubling down on a formula that is working. As the President, Chief Operating Officer, Corporate Secretary, and Director of Aritzia, the total compensation of Jennifer Wong at Aritzia is CAD$1,224,000. ", During what little free time she has, Ms. Wong loves to hit the gym. Where impact and internal change are concerned, its an ever-evolving process. >> Rocketreach finds email, phone & social media for 450M+ professionals. [Operator Instructions]. And these new categories are looking down the road and down in the future as we continue to expand. And then we also have, in the second quarter, COVID relief subsidies and rent abatements that we received last year that are -- that obviously we're not going to get this year. Day after day, we were figuring out what our next move was going to be., Once the decision was made, they scrambled to put together a communications plan. That's great to hear and very helpful. Thanks, Jennifer, and good afternoon, everyone. Our earnings release, the related financial statements and the MD&A are available on SEDAR as well as the Investor Relations section of our website at aritzia.com. Similar Name to Jennifer Wong. But right now, as of today, we haven't seen a material change from the peaks that we've been experiencing over the last six to nine months. Right now, the positioning that we have in the marketplace with Everyday Luxury has positioned us given what might be coming down in terms of the environment and what we're seeing with competitors in that we see it being an opportunity. We do not need jerk react to short-term pressures or transitory pressures and that's why we're holding firm in terms of our pricing strategy. There were many firsts: our first-ever capsule collection,featuringfor the first time our remarkable Aritzia people,and with 100% of proceeds going to our Aritzia Community partner organizations.. Aritzias website, launched in 2012, was more than two years in the making. Please go ahead. The chain oozes cool: it often hires DJs to play in its stores. Our liquidity position remains strong with $179 million in cash and zero drawn on our $175 million revolving credit facility. I hadnt even finished my last year exams, Wong explains, her role evolving to key holder and then assistant store manager while she was still studying economics at the University of British Columbia. Aritzia has never been stronger or better positioned for the future. As Todd mentioned, we were grossly under inventory last year when we think we left a lot of sales on the table. All rights reserved. Ms. Wong was 18 years old at the time and studying commerce at the University of. Get Aritzia Inc. financial information by email. This outstanding growth in spite of macro headwinds was driven by the incredible demand for our product across all geographies and all channels. In this campaign, we shined a light on the stories of LGBTQ revolutionary. As a second wave of COVID-19 threatens to roil retail again, however, even the most painstaking preparations may not be enough. A core value guiding the brand is its give-back initiative, as evidenced by the work it committed to at the start of the pandemic. That said, we saw key programs and proven sellers continue to resonate with clients and drive our strong demand. This extends beyond selling clothes: Wong says that incorporating socially responsible values through their architecture design and embracing changes in technology are examples of how the brands approach has evolved over the years. We're extremely pleased with our Q1 results and excited for the future. Aritzia secured its New York Super Puff pop-up location, for example, at less than 30 cents on the dollar compared to a few years ago. "I hadn't even finished my last year exams," Wong explains, her role evolving to key holder and then assistant store manager while she was still studying economics at the University of British Columbia. "Those are really intelligent locations," Patterson said. In fact, we did, says Wong defiantly, launching the first stores right in the middle of the financial crisis. In addition, it sells its products through online at aritzia.com. We maximized the availability of our product and delivered a solid inventory position through strategic inventory management and expedited freight. Wallmine is a radically better financial terminal. We were planning for a lot worse. But the recent resurgence of the virus makes it clear the pandemic isnt over, which could mean more emergencies ahead. Thanks so much for that color. Good afternoon, everyone, and thank you for joining us today. On the southeast corner of Broadway and Spring in New York Citys stylish SoHo neighbourhood is the Canadian clothing store, Aritzia. And these aren't just the flagships we're looking to expand. So we're seeing it as an opportunity. Good afternoon. While Aritzia is no stranger to designing its own signature brands, it created a limited-edition capsule collection to celebrate an equation at the heart of it all Women to the Power of Women which dropped ahead of International Womens Day, this past March. Know. One of the amusements of Zoom-enabled remote working has been the chance to peek inside the private lives of colleagues: a bold wallpaper choice here, a child barging in there. But as long as we continue to do what we think is best and continue to do what we see as right, that will guide us and lead us towards positive outcomes whether it's within our company or whether it has a bigger impact on our community., This is a BETA experience. } The company offers its products under the Wilfred, Babaton and TNA brands. Aritzia Inc. (OTCPK:ATZAF) Q1 2023 Earnings Conference Call July 7, 2022 4:30 PM ET, Thank you for standing by. Email Address * Country * They also launched their first paid Instagram campaign with Kendall Jenner in October 2018. A similar willingness to stick to convictions propelled Aritzias move into the U.S. Every Canadian business that went stateside retreated with their tail between their legswhat makes you guys any different? she recalls advisers asking the team. Thats my game, and this was the ultimate stress test, says Wong. Please go ahead. We're monitoring it on a daily basis. We're monitoring the challenges of supply chain, labor and inflationary pressures very closely, maximizing our position to deliver Everyday Luxury for our clients today and tomorrow is our top priority. And so really, at the end of the day, we see our customers preparing to pay full price for a product, and we actually see our off pricing, particularly in our stores, initiatives may have been continuing to decrease the off-pricing as it has not seemed to have affected our sales. These are your fall 2020 must-haves, and Aritzias got them all. I havent had to go anywhere for career challenges or opportunities, she says. She is really nice , sweet and funny. And just as a follow-up, I assume that, that impact from expedited freight would be incremental to last year. Jennifer Wong has 3 current jobs including CEO at Aritzia, President & Chief Operating Officer at Aritzia, and COO at Aritzia. The company was formerly known as Aritzia Capital Corporation and changed its name to Aritzia Inc. in August 2016. So, whatever the customer wants, we will give her.. 11_20_cover_final.indd 1 2020-10-09 2:24 pm mba mba with co-op accelerated mba. And a puffy goose-down parkaoversized, like the yellow one Justin Biebers wife, Hailey, sported around Toronto last year. Aritzia Inc. was founded in 1984 and is headquartered in Vancouver, Canada. To date, it has contributed more than $36 million in product donations, financial support and volunteer hours to non-profits and Aritzia Community partners that share its values. And Todd, you gave some commentary around sort of the cadence of pressure as the year unfolds or the rest of the year unfolds. I wanted to ask, I guess, just on the sort of price and promotional environment and sort of competitive environment. You can trust us to find something thats going to make you feel great and look great. It does so through three pillars of impact: poverty alleviation, mentorship and job readiness. The 'Super' Success Of Aritzia: Jennifer Wong, President And COO, Leads With Impact Over the course of Jennifer Wong's tenure with Aritzia, the company has grown from a Canadian retail. Download year list. How much is for product versus other services, dressing rooms or cafes? Yes. Her plan was to make some extra cash while she studied economics at the University of British Columbia. Brian Wong The cheat code. After 33 years, is she not tempted to try something else? And while our business is exceptionally good and continues to be exceptionally good, we are, as I said, monitoring very closely for any signs. We look forward to sharing our long-term targets with you at our upcoming Investor Day. A Vancouver native, she had planned to pursue finance upon graduating, but Aritzias CEO, Brian Hill, had other ideas. Hello! And like we've said, there's no indicators right now -- for right now that we're seeing any change in that. As part of the Aritzia Community Care Program (Aritzia invested $10 million into the program), the brand gifted 10,000 U.S. frontline healthcare workers fighting COVID-19 with custom clothing packages. We see extraordinary growth opportunities ahead, and we're excited to be sharing our multiyear strategic growth plan at Aritzia's Investor Day, the week of October 24. Education Find contact's direct phone number, email address, work history, and more. This point in time, we were lapping two months of closures one! To hit the gym change are concerned, its an ever-evolving process for joining us today and promotional environment sort..., COO, and this was the ultimate stress test, says Wong & gt &... 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