04:41 PM EDT, 05/02/2024 (MT Newswires) -- Aritzia ( ATZAF ) reported Thursday after trade that its fiscal fourth-quarter profit fell 35%, even as net revenue rose.

The clothing retailer said net income fell to C$24.2 million, or C$0.21 per diluted share, down from the prior-year quarter's C$37.3 million or C$0.32 per diluted share.

On an adjusted basis. net income was C$38.2 million, or C$0.34 per share, in the quarter down 18% from C$46.7 million, or C$0.40 per share, but well ahead of the consensus analyst estimate for the measure of C$0.32 per share, according to Capital IQ.

Revenue rose 7%, to C$682 million, from C$637.6 million. Aritzia ( ATZAF ) credited its improved inventory position and mix, and from the sale of new styles, partially offset by a lower volume of markdown sales, for the improvement.

The company expects net revenue of between C$475 million to C$495 million in Fiscal Q1 2025, a growth of 3% to 7%.

For fiscal 2025, the company is guiding for net revenue of $2.52 billion to $2.62 billion, a growth of 8% to 12% from Fiscal 2024. This includes the contribution from retail expansion with 11 to 13 new boutiques and three to four boutique repositions. Gross profit margin is forecast to increase by 400 to 450 bps compared to Fiscal 2024.

Aritzia ( ATZAF ) shares closed up C$0.79 to C$36.13 on the Toronto Stock Exchange.