Thank you. [Operator Instructions] The first question is from Mark Petrie with CIBC. Aritzia executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. And also interesting Brian's comment about a friend who isn't seeing that. (To date, Aritzia boasts ten signature brands ranging in demographic and price point, including TNA, Babaton and Wilfred.). any notable changes in behaviour," Aritzia CEO Jennifer Wong said . There are 8 older and 2 younger executives at Aritzia. While she admits that the hours can be gruelling, she doesnt subscribe to the clich work to live, live to work. And so we think by opening these bigger stores and due to the economic environment out there in real estate, we're actually paying less or getting bigger stores and paying less rent than we were previously. And we are pleased with the early results we're seeing in our new boutiques and our new markets. We will continue purchasing shares opportunistically throughout fiscal 2023. The retailers rapid growth since going public in 2016 stands in sharp contrast to industry trend lines. As of November 28, 2021, the company operates approximately 105 boutiques. I just sort of -- lots of great ground you've covered so far. The company has identified roughly 100 locations that could support stores, and given the troubles of its retail competitors, there are many deals to be had. Maybe you could just talk a little bit about how that space is going to be utilized? Really nice to see the strong momentum and the strong demand continuing. But I'm just curious, is that something that you would expect to roll out over the -- across the entire network? He estimates about half its stock is proven sellers, accounting for about 80% of sales and keeping revenues stable year to year. When Brian Hill opened the first standalone boutique in 1984, the idea was simple: offer beautiful clothes in aspirational spaces with exceptional service. Last updated: 1 January 2023 at 11:00am EST. 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. With that, I would like to thank everyone for their support and kind words as I have stepped into the role of CEO and a big thank you to all of our people across our boutiques, Concierges, distribution centers and support office. All rights reserved. She rose through the ranks from assistant store manager, to manager, to vice-president of operations. Despite the challenges, our beautiful product assortment, best-in-class distribution centre, aspirational website, and response from our loyal clientele led to e-commerce growth in excess of 150% through the end of May 2020.. The following day, Aritzia boutiques went dark. One of the things were good at is understanding what our customer wants, she explains. & Non-Independent Director of Aritzia, the total compensation of Ms Wong at Aritzia is CAD$1,096,831. This decision resulted in significantly higher freight costs, but we intentionally prioritized our accelerated momentum. She is really nice , sweet and funny. Date Download. Or do you sort of start at the flagship and then go to eCommerce and then see how clients respond before offering it more broadly? 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. While we're encouraged by the trends we're seeing in our data, we continue to remain vigilant as we monitor the ever-evolving macro backdrop. 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. Jennifer Wong is currently Chief Executive Officer at Aritzia - View - Aritzia org chart Set up your alert to follow the career of Jennifer Wong. No wonder: she's been with the company since 1987, when she joined the Robson Street store as a seasonal style advisor. The launches have gone extremely well. The next question is from Meaghen Annett with TD Securities. 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. We want to make sure our people reflect our brand and exude our culture., One of the challenges Wong faces as a leader of a growing organization is her inability to draw on previous work experiences. I think the biggest difference is the timing this year. So I see this being obviously some opportunities for new categories, but at the same time, we just don't think our stores are doing -- our size of our stores are doing our customers and Aritzia just as at this point in time. 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. That said, we saw key programs and proven sellers continue to resonate with clients and drive our strong demand. I guess there's two, now Manhattan and now Chicago and they're substantially larger than the stores that you typically build. Hi, Lorraine, that's a good question because we've had lots of internal dialogue about that. 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. And I think that we're in it for the long game, as Jen mentioned. . With every major initiative she took on, she had no direct previous experience, yet she was entrusted with leading it. We're just getting started. Jennifer Wong is the president and COO at Aritzia, an innovative design house and fashion boutique that conceives, creates and develops its own exclusive brands, each with a unique vision and. And like we've said, there's no indicators right now -- for right now that we're seeing any change in that. We've done such a good job to extend all other product expansion initiatives. While Todd will provide you with our detailed financial results, I am pleased to share that we delivered net revenue of $408 million in Q1, an increase of 65% from last year, led by our business in the U.S., which continued to accelerate at a phenomenal pace, increasing 81% from last year. 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. The company was formerly known as Aritzia Capital Corporation and changed its name to Aritzia Inc. in August 2016. And I think if we continue to execute like we've been doing and we've proven over like the last three years at how we can execute during very, very challenging times, we feel very confident that we are in a solid position to be able to continue to perform through another challenging period. Similar Name to Jennifer Wong. Good afternoon, everyone. jennifer wong aritzia husband. (The company even has a mens collection for the first time in 36 years, after the celebrity-driven puff coat craze spilled over the gender line.) 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. He's talking. So just wondering if you can quantify the impact from expedited freights in fiscal '23, specifically? Prior to her current role, Ms. Wong was named our chief operating officer in 2007 where she created and led our executive committee as its chair. So we're going to continue to push and open stores. Overall, adjusted EBITDA in the first quarter was $70 million, an increase of 70% from last year. Even before the pandemic hit, Canadian fashion retail was littered with flame-outs, including Reitmans, Le Chteau and Danier. And then so there could be savings there. She became COO in 2007. We were especially excited about launching our more sustainable styles page. meet aritzia's jennifer wong, one of canada's 50 best executives. Todd and I will share some prepared remarks, and Brian will join us for the Q&A. Yes, we aren't seeing any change in that right now. And as always, we put our people first. We opened three new boutiques in the quarter to a tremendous client response, two of which were in new markets, Las Vegas and Miami. Wong even uses a Canadian-themed metaphor to describe their choice in real estate, calling the stores SoHo location centre ice in the fashion world. The boutique boasts rustic wood panels and vintage chandeliers giving it a cabin-chic feeling, while the extremely helpful retail staff oozes with a friendliness thats purely Canadianbecause many of them are. Aritzias sales at its roughly 30 U.S. locations have consistently exceeded expectations, and the market is now its main growth engine. Additionally, Jennifer Wong has had 1 past job as the Vice President / Vice President Support Operations at Aritzia. involvement of Jennifer Wong. She worked at the Robson Street location part-time, earning cash to buy clothes from the same store she adored for its hip designs. In Q2, we're entering new markets. Our business model continues to enable us to provide our clients with beautiful products for all aspects of their life. So we're trying to get ourselves in a position as we're actually even spending -- swing the pendulum farther than the other direction. Jennifer Wong is Chief Executive Officer at Aritzia Inc. See Jennifer Wong's compensation, career history, education, & memberships. But its her analytical and organizational talent that make her invaluable. Thanks so much for that color. How much is for product versus other services, dressing rooms or cafes? We also advanced our client and sales reporting this quarter, giving us a 360-degree view of our clients and their shopping behaviors. Aritzia is the name on the door, Wong explains, but there is no Aritzia on the labels. Today the three main labels are Babaton, youthful TNA, and breezy Wilfred, with various sub-brands and offshoots such as handbag lines and denim. This improvement was achieved primarily from leverage on occupancy and warehousing costs that was amplified as we lapped the boutique closures from last year. Hill has given every indication that Aritzias boutique expansion will continue, especially stateside. In fact, we did, says Wong defiantly, launching the first stores right in the middle of the financial crisis. Designed for executives who want to optimize their leadership potential and continue to establish their legacy. So if you could just talk a little bit about some of the attributes that you think should help Aritzia weather this rocky period? I mean these initiatives right now in the short term are not going to drive our sales. 11_20_cover_final.indd 1 2020-10-09 2:24 pm mba mba with co-op accelerated mba. . So we're seeing it as an opportunity. Sorry, Mark. But as stressful as it was, we had each others backs, and it was amazing to see how many people stepped up.. ); Jennifer Wong has 3 current jobs including CEO at Aritzia, President & Chief Operating Officer at Aritzia, and COO at Aritzia. And frankly, we're still building from this point is how we are looking at it and making sure that we have the right level of inventory to drive the sales. Sorry, I would just add something. From Vancouver to New York City, Jennifer Wong, COO of Aritzia, is styled for success. And is there any opportunity in Canada in certain markets where you also think you should upsize the boutiques -- some of the boutiques? It's what we're actually trying to do here, which is working out quite well because, as you know, there's a lot of retailers out there that are shedding bigger stores and everything else. It's a journey through our experience, it's not just something one-dimensional experience for them. 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. By evening, the decision was made: We had to close all the stores in an abundance of caution, Wong recalls. 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. Aritzia Inc. was founded in 1984 and is headquartered in Vancouver, Canada.. HARRINGTON JACKET MENS CLASSIC RETRO SCOOTER 1970'S VINTAGE BOMBER MOD COAT TOP . She never dreamed she'd end up in the position she holds today as the fashion chain's chief operating officer. 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. 8 older and 2 younger executives at Aritzia is CAD $ 1,096,831 name on the.. We lapped the boutique closures from last year Jennifer Wong, COO of Aritzia, is that something that think! $ 70 million, an increase of 70 % from last year just... Name on the labels she took on, she doesnt subscribe to the clich work to live live! Capital Corporation and changed its name to Aritzia Inc. in August 2016 hip designs boasts. So just wondering if you could just talk a little bit about how that space is going to utilized... New markets optimize their leadership potential and continue to push and open stores not just one-dimensional. 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