Monthly Archives: August 2022
MWG Focus Stock: Aritzia
Aritzia: A look at its Lifecycle so far and what the future holds
Aritzia (ATZ-TSX) is a company we have held in our Global Equity Growth Fund since 2018. In our initial report, we compared Aritzia’s U.S. growth opportunity to that of Lululemon, given their similarities in target market and Direct-To-Consumer approach. As Aritzia has proven successful in gaining U.S. market share (revenue has grown at a 41% CAGR), we are extending our analysis to other successful retail growth brands by comparing Aritzia with not only Lululemon (LULU – NASDAQ) but Inditex (ITX – MC). ITX is a Spanish-based global apparel and accessory retailer with a collection of seven brands, most notably Zara, and 2021 revenue totalling €27B . Other ITX brands include Bershka, Massimo Dutti, Pull & Bear, Stradivarius, Zara Home and Oysho. Read
July Portfolio Update | 2022
Thoughts on the Market: July Edition
Written by Jamie Murray, CFA
We wrote last month that after the worst start to a year in half a century, positive data points on the equity markets were transpiring. You can re-read the argument by clicking here. At the time, contributors to supply side shortage reversals included falling energy and commodity prices, easing of the semiconductor shortage, lower shipping costs and falling bond yields. One month later, markets have further improved on all fronts. Read