Aritzia Targets Global Scale With Aggressive U.S. Expansion

The expansion strategy hinges on a rapid physical footprint, with plans to open 12 to 14 new boutiques annually across the United States. By fiscal 2032, the retailer expects to operate 220 stores, supplemented by the ongoing repositioning of five to seven existing locations each year. Chief Executive Jennifer Wong identified the U.S. market as the primary growth engine, though the company is simultaneously eyeing broader international territories to cement its global reputation.

Digital channels remain central to this trajectory. Aritzia projects North American e-commerce revenue to reach between C$4.1 billion and C$4.5 billion by 2032, reflecting a 20% compound annual growth rate. To support this scale, the company has earmarked C$2 billion in capital expenditures over the five-year window. Profitability targets include an adjusted EBITDA margin of 21%, with management committing to return half of its free cash flow to shareholders through a C$2 billion stock repurchase program.