Aritzia Inc. (ATZ.TO)

This has had tremendous success over the last 32 years. It has grown revenues by 21% compounded over the last 10 years. Has a very interesting model, where they take in 2 of their most popular labels, and create an entire new store around them. Only has 76 stores and are expanding into the US. Probably not the best time to buy because they’ve just had 2 very strong years of results. The fashion industry is fickle. The valuation today is assuming that the strong sales are going to continue year after year after year. However, in 2014 they had same-store sales of -4.9%. You should wait for a valley to buy. A better choice today would be Lululemon (LULU-Q).

(Market Call Minute.) Great fashion brand, but it’s a Hold as retailers are a difficult place to play.

Same store sales growth is 16.9%. 4 to 5% is normally not a bad number in retailing. It rose only a little after the IPO.