When the COVID-19 pandemic pushed millions of people to work remotely two years ago, shoppers wanted one thing: comfort. This was a tailwind for athletic brands such as Nike Inc (NYSE:NKE) and Lululemon Athletica Inc (NASDAQ:LULU), but a strong headwind for brands that produce more formal wear.
Times have changed and demand has skyrocketed for business casual and formal clothes. One company that has benefited from this increase Aritzia Inc (OTC:ATZAF).
Aritzia is a Canadian clothing company primarily focused on women’s fashion, offering trendy dresses, shirts and more. The clothes are expensive, but not over-the-top unaffordable. Aritzia clothes have grown in popularity, with the company nearly doubling revenue year-over-year, according to Benzinga Pro.
Since April 2020, Aritzia’s stock’s one-year return has outpaced giants Advanced Micro Devices, Inc (NASDAQ:AMD), Apple Inc (NASDAQ:AAPL) and Ford Motor Company (NYSE:F).
Here’s how the returns break down from April 2021 to the present:
AMD is up from $81.09 a share to $106.91 for a return of 31.84%.
Ford is up from $12.17 a share to $16.56 for a return of 36.20%.
Apple is up from $123.00 a share to $173.11 for a return of 40.74%
And finally … Aritzia’s stock is up from $24.26 a share to $39.25 for a return of 57.25%
Photo: Courtesy of Unsplash
