Aritzia (ATZ) reported another huge quarter after market close, with results landing above the top end of guidance…

… on the back of 44% revenue growth (35% same-store growth).

Combined with a tenth straight quarter of margin expansion…

… management raised its already ambitious guidance again, calling for an additional 4% on the top line and 50 bps of margin at the midpoint (tracking ahead of its previous five-year target).

With the multiple normalizing to the long-term average after some weakness heading into the print, we wouldn’t be surprised to see the stock rebound at the open…

… though the durability of any rally likely depends on investor perception, if new economic data suggests the consumer continues to weaken.

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