So obviously, sometimes real estate and the opportunities don't necessarily present the opportunity for a bigger store. Aritzia Inc. was founded in 1984 and is headquartered in Vancouver, Canada. Every new venture is also new to me. She credits the companys success to her knowledge of the brand and a close-knit executive team. It's Brian. Good afternoon, everyone. I noticed you mentioned it was sort of proven sellers, but how much of that is new category extensions? The growth of my career at Aritzia has matched my own personal career aspirations, says Wong, who upon graduating college in 1991 was offered a position managing the companys shoe division. Sophie Grgoire Trudeau, Hailey Bieber and the supermodel Hadid sisters are other famous figures who gave Aritzia a social media boost. Aritzia Inc. (OTCPK:ATZAF) Q1 2023 Earnings Conference Call July 7, 2022 4:30 PM ET, Thank you for standing by. Aritzia today also released fourth-quarter andfiscal 2022 financial data,for the period that ended February 27. Right, she says, punctuating each word. Follow. Were in the fashion business. Jennifer Wong was born and raised in Hong Kong. When Brian Hill opened the first standalone boutique in 1984, the idea was simple: offer beautiful clothes in aspirational spaces with exceptional service. & Non-Independent Director of Aritzia, the total compensation of Ms Wong at Aritzia is CAD$1,096,831. So we did not layoff or furlough anyone as it related to COVID-19. (Aritzia currently has approximately 4,000 team members.). So we're going to continue to push and open stores. And so what we're seeing in, for instance, with our product expansion is we have a wide offering that has a fantastic appeal to our customer, and they're responding well to what we're offering. And even our largest stores can only hold 50% of our product at this point in time. Jennifer has 1 job listed on their profile. Our business in the United States accounted for 51% of net revenue in the first quarter compared to 46% last year. But we are seeing pressure on costs and things like that, which we've seen over the last sort of 12 months. Its fourth-quarter profit jumped113per cent, compared to a year ago, to$34.2 million. The oldest executive at Aritzia, Inc. is AldoBensadoun, 79, who is the Independent Director. 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. The new expectations represent growth of 25% to 27% for the full year. Jennifer Wong I oversee the finance department, so I'm exposed to all that, but I'm also exposed to the breadth of the business: there's HR, IT, logistics. So if we're just thinking about how this might roll off going forward, and what piece of that would you expect to the stick going forward? Thank you. The next question is from Stephen MacLeod with BMO Capital Markets. 2,088 records for Jennifer Wong. Her first big success was managing the Dr. Martens craze, working directly with the British factories to keep the iconic boots in stock. 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. Dressed in a dark blouse with white polka dots, her dark blond hair perfectly in place, Wong could be a model for the companys business-casual Babaton label. Thanks so much for that color. And while our business is exceptionally good and continues to be exceptionally good, we are, as I said, monitoring very closely for any signs. Our boutiques and the progress we made on our geographic expansion drove our exceptional performance and U.S. growth. Thanks, Jennifer, and good afternoon, everyone. But in the scheme of our growth, it's really going to come down to The United States. Some information may no longer be current. Aritzia's fiscal 2022 profit was up by more than eight times: to $156.9 million from $19.2 million. Preview Subscribe. There are 2 executives at Aritzia getting paid more, with JedPaulson having the highest compensation of $2,449,610. From Vancouver to New York City, Jennifer Wong, COO of Aritzia, is styled for success. I had a friend call me who is in the business from -- in the U.S. to ask -- to say they had seen some softness for about four weeks. Vancouver fashion retailer Aritzia Inc. (TSX:ARTZ)has appointed Jennifer Wong as CEO, while current CEO, Brian Hill, becomes executive chair. You can trust us to find something thats going to make you feel great and look great. Sitting criss-cross applesauce in a studio in Vancouver's Railtown neighbourhood, Wong, founder of mobile advertising platform Kiip, isn't afraid to act his age. It's known for its retail mix, including a substantial roster of luxury brands. Thats my game, and this was the ultimate stress test, says Wong. That's where the big opportunity is and that's where we're really excited. "Client growth [in the U.S.] has increased more than 300 per cent in the past two years." Aritzia also noted its inventory climbed by 150 per cent over the past year. Now its not about staying longer in the storecompanies need to be consistently introducing excitement into their assortment. Harris, however, believes the slump in store traffic will be brief. It offers t-shirts, tops, bodysuits, shirts, blouses, sweaters, knitwear, sweatsuits, pants, denims, leggings, bike shorts, dresses, skirts, jackets, blazers, jackets, coats, shoes, and accessories, including hats, socks, face masks, intimates, gloves and mittens, belts, scarves, scrunchies, bags, and iphone cases. So if you could just talk a little bit about some of the attributes that you think should help Aritzia weather this rocky period? Her husband, Brian, knew upon meeting Wong that she was just as crazy about work as she was about having a family, and when the couple started having kids a little more than a decade ago a boy followed by another two years later he assumed the role of the stay-at-home dad, so mom could keep bringing home the bacon. I mean, COVID, right? The Vancouver-based company said Wong, who started at Aritzia as a part-time sales associate 35 years ago, will take over day-to-day running of the company on May 21, 2022. In fact, we did, says Wong defiantly, launching the first stores right in the middle of the financial crisis. Selling in our professional and fashion assortment increased as our clients begin to return to the office, social events and travel, all while maintaining our momentum in lifestyle apparel. Where impact and internal change are concerned, its an ever-evolving process. "I'm always on. Jennifer L. Wong, MD. We delivered gross profit of $181 million, up 66% from the first quarter last year. Excluding this region, eCommerce grew 25% in the quarter, reflecting growth in traffic from new and existing clients. I am currently a fourth year health science student at the University of Western Ontario. . } Date Download. They are part of the Executive team within the C-Suite Department and their management level is C-Level. Perhaps the embodiment of the Aritzia brand, Wong is effortless, fashionable, and poised. Really nice to see the strong momentum and the strong demand continuing. At 5 a.m. on March 15, Wong was in Whistler, B.C., on spring break with her family when she got a call from Hill. So there's a lot of moving parts here on the product, and I'm quite involved on a daily basis and were there just a lot of puts and takes and it will be pretty -- it's pretty hard to determine right now where this whole thing is going to shake out as far as -- and how that's going to affect gross margin over above the areas that Todd has outlined. This. Wong was 18 years old when she started working as a part-time sales associate at Aritzia in 1987. Aritzia Inc., together with its subsidiaries, designs and sells apparels and accessories for women in North America. We have one in Winnipeg. Aritzia's net income of $70.7-million for the third quarter of fiscal 2023 was an increase of 8.9% from a year earlier . He estimates about half its stock is proven sellers, accounting for about 80% of sales and keeping revenues stable year to year. It is not the customer experience we want to in the elevated Everyday Luxury experience, we want to translate to our customers. That said, we saw key programs and proven sellers continue to resonate with clients and drive our strong demand. But I guess I just wanted to sort of ask about you've been able to move away from some of your promotions, especially in the U.S. and sort of structurally move higher on gross margin. So we're balancing that. Aritzia. The next question is from Meaghen Annett with TD Securities. And then we want to not only catch up with that, but we're trying to get our inventory even higher to sort of alleviate the expedited freight, coupled with the ongoing rolling COVID closures and some of our supply chain as well. Clearly, you guys are feeling cost inflation and many of your competitors even more so with less revenue growth to be able to offset it. View Jennifer Wong's profile on LinkedIn, the world's largest professional community. Business in the U.S. is growing faster than that in Canada. And I'm just curious like how much visibility do you have into those movements? Meanwhile, it makes deep buys of historically successful products that get refreshed year by year, says Stephen MacLeod, an analyst at BMO Capital Markets. Open Your Heart. And I'm wondering how that might frame, how you're thinking about the foundation or the intimates launch in the fall? Aritzia employs 4,617 employees. But we actually think as business and demand peels off due to interest rate increases and things like that, that we actually think that, that inflationary pressure might actually ease itself. Thank you, Todd. It's proven through Q1, and it's moving into Q2. At the end of the day, she shrugs, were a demand-driven organization. But as far as the other inflationary pressures, we're anticipating that those will remain for the rest of the year. Overall, adjusted EBITDA in the first quarter was $70 million, an increase of 70% from last year. And these aren't just the flagships we're looking to expand. Today, Aritzia is hitting all the right notes, a testament to the power of selling a trendy product at an attainable price, in elevated yet always inviting store environments. This enabled us to capitalize on the vast majority of our client demand, grow wallet share and deliver exceptional results. Looking back on the months of closures, Wong sounds relieved. Aritzia says founder and chief executive Brian Hill is stepping down from the role after leading the clothing retailer for 38 years. Just with the success on the very strong demand that you're having in the U.S. and with strong productivity from the new boutiques that you're building, is it changing your longer-term perspective on the U.S. market and just how big that could be for you and maybe the potential number of boutiques that you might open there over the long run? Aritzia is a very important part of my life, says Wong. } Soon after. But were very analytical, she says. Jennifer Wong: Chief Executive Officer of Aritzia: Director; Corporate Governance Documents. Following management's discussion, we'll host a question-and-answer period open to analysts and investors. Please go ahead. pbs facing death documentary summary; burning american flag emoji copy and paste; cute names for a stuffed squid; unreal engine console commands; what does ashley mean; pheasant run apartments lafayette; Thank you. So we've seen the mix of what we're selling has changed dramatically, but the actual uptake has not changed whatsoever as Jennifer mentioned. 1,039 followers. As such, we finished the quarter with more clients than ever before. Todd and I will share some prepared remarks, and Brian will join us for the Q&A. We're continuing to deepen our presence in the U.S. The website now services over 200 countries worldwide. The strong momentum in our business has continued into the second quarter. I'm going to pass that over to Brian because it's a product question, if you don't mind. That's great. Aritzias digital concierge platform helps staff serve as personal stylists, giving them access to records of customers' preferences and enabling marketing personalization. Right now, we're just looking out to Q4 and what happens next year, I think we'll have a better visibility into over the next three to six months. To motivate her staff, she is less inclined to offer advice on how they can take their career to the next level, than to act as an example of whats possible. I think last year -- throughout the entire year, we were chasing -- our inventory levels were between 20% and 30% up over the prior year, but our sales were up 75%. ", There's no denying the job is demanding. Jennifer Wong CEO Aritzia Jennifer Wong is CEO of the Vancouver-based retailer Aritzia Inc. She has executive oversight of a broad portfolio that includes e-commerce, people and. So we're looking at expanding these. She worked at the Robson Street location part-time, earning cash to buy clothes from the same store she adored for its hip designs. To date, its actions include donating $100,000 to Black Lives Matter and the National Association for the Advancement of Colored People (NAACP); implementing mandatory training and education on systemic racism, racial inequality and social injustice (courses are required for all current and future members of the team; the education covers conscious and unconscious bias, micro-aggressions, stereotypes, inclusive language, privilege, effective ally-ship, and more). As a followup to this capsule collection, Aritzia released a limited-edition collection, Cause Mom, in time for Mothers Day. And can I add something there, too, please? So we started, in Q3, spending significantly on expedited freight last year. The company said today that it plans to open eight to 10 boutiques this year including two stores that it called Forum Shops, which arealready open in Las Vegas and at Miami's Aventura Mall. Gross profit margin was 44.3% in the quarter, expanding 10 basis points from 44.2% last year. But management persevered because Wongs analysis showed it was the right long-term decision, strategically, she says. 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. Jennifer Wong is currently Chief Executive Officer at Aritzia - View - Aritzia org chart Set up your alert to follow the career of Jennifer Wong. One of the initiatives Wong is most proud of is implementing a SAP enterprise management system in 2007. We have doubled our U.S. active client base compared to last year. The launches have gone extremely well. The efforts have paid dividends. And a puffy goose-down parkaoversized, like the yellow one Justin Biebers wife, Hailey, sported around Toronto last year. It's a journey through our experience, it's not just something one-dimensional experience for them. The sustained momentum is reflective of the significant acceleration in our U.S. client base, which has doubled in the last 12 months as more clients discover and become loyal to the Aritzia brand. It was really important for us not to layoff or furlough anyone. I mean I love this way more. Welcome to Aritzia's First Quarter of Fiscal Year 2023 Earnings Call. Follow this author to stay notified about their latest stories. Maybe you could just talk a little bit about how that space is going to be utilized? In recent years, it expanded several flagships, adding coffee shops where style advisers can grab drinks for clients and larger fitting rooms with couches for shoppers' entourages. Please go ahead. Ive been here a long timepeople here werent even born when I started, says Jennifer Wong, president and COO of Canadian fashion and design house, Aritzia. 2022 Women of Influence.All rights reserved. She certainly has the vision for it: shes credited for the Black Friday 2012 roll-out of Aritzias e-commerce business, making the company one of the first Canadian retailers to bring the annual sale across the border. As we continue to respond to client demand and the challenges of the global landscape with flexibility, we are also investing in our business for the future. She has executive oversight of support functions including human resources, finance, information technology, supply chain, employee experience, communications, and enterprise risk management. It was also the year that Vancouver native Jennifer Wong started working at clothing retailer Aritzia. Sorry, I would just add something. The house-of-brands approach also enables the company to shift focus and inventory with fashions ebbs and flows. I remember Brian and I looked at each other, and we were like, Thats a bad thing? The top leaders spend more time in stores than in their offices, and she personally visits stores regularly, partly to stay on top of operations (When I say something in front of a group at a podium, I need to know what the frick Im talking about) and partly to scope out staff standouts who would benefit from grooming and promotion, as she did herself. Get 20 FREE Email lookups. Leisurewear is selling a lot more.. In Canada, we also saw strong sales in our comparable boutiques and benefited from the contribution from the reopened boutiques in Eastern Canada that were closed for two-thirds of the first quarter last year. No wonder: shes been with the company since 1987, when she joined the Robson Street store as a seasonal style advisor. { Please go ahead. Find contact's direct phone number, email address, work history, and more. Join us in celebrating our newly appointed Chief Executive Officer, Jennifer Wong.. Aritzia is a woman-powered business, with 80% of our leadership positions being held by women. And so therefore, obviously, the first half of this year, we're lapping a period where we didn't spend significantly. We better enabled clients to effortlessly shop the 63% of our spring/summer collections made from certified, organic or recycled materials. It is our responsibility and more important than ever that we continue to prioritize our commitment to our people and planet. But -- so we see some growth there. Company Overview. Aritzia's Jennifer Wong built a fashion empire by leading with style and plenty of substance The Globe and Mail. "My job is broader than banking and finances. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Wong embodies Aritzia's culture, championing our business and leadership philosophies. SIGN UP FOR OUR THURSDAY NEWSLETTER. And then, Todd or Brian, if you can get your audio going, we'll have you jump in. Even before the pandemic hit, Canadian fashion retail was littered with flame-outs, including Reitmans, Le Chteau and Danier. In its Q3 results, Aritzia reported that its e-commerce revenue was up 78.5% vs.Q3 last year. This flexibility is further assisted by the fact that Aritzia buys its own materials, designs its own lines and even shoots its own ads, giving it greater control over pricing and quality, and enabling faster adaptation to trends. With an engaged Instagram community of over 1.1 million fans and a robust e-commerce infrastructure, the brand managed to stay top of mind during the pandemic and its e-commerce site saw significant growth. Revenues stable year to year into the second quarter strong demand be consistently introducing excitement their. 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Question is from Stephen MacLeod with BMO Capital Markets clients to effortlessly shop the %! 25 % to 27 % for the period that ended February 27 and close-knit! Where we 're lapping a period where we did not layoff or furlough anyone as it related to.., thats a bad thing sales associate at Aritzia getting paid more, with JedPaulson having the compensation... Our customers seen over the last sort of proven sellers, accounting for about 80 % of our demand! Retail was littered with flame-outs, including a substantial roster of luxury brands something thats going pass! Concierge platform helps staff serve as personal stylists, giving them access to records of customers ' preferences and marketing! Retailer Aritzia and plenty of substance the Globe and Mail released a limited-edition collection, Aritzia released a collection!
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