TIP853: Aritzia (ATZ.TO): The Women's Apparel Brand Conquering the US, plus Nike, Lulu, and More w/ Kyle Grieve & Shawn O'Malley

You're listening to TIP. Welcome back to the Investors Podcast episode eight fifty three. Today, we're covering a business that I personally know better than almost any other because I've owned it since 2020, and it's still actually the largest position in my personal portfolio, and that business is Aritzia. I came into this episode knowing you'd be pitching Aritzia and maybe feeling a little gun shy because the last premium apparel brand that I fell in love with was Lululemon, and and that just has not quite gone to plan for me. And I think that's why I'm really excited to dig into this one with you Sean. You know, you've held a stock through as many ups and downs as I have with Aritzia, you really have to ask yourself some of the hard questions like, is this business getting better or worse? Or am I holding this because the thesis still works or because I've just gotten more and more attached to this specific name? Well, I think they're really valid questions for both of us and also our third co host Daniel to be constantly asking ourselves about every position that we hold in our intrinsic value portfolio. But the timing of our conversation today around Aritzia is definitely very interesting. The stock has been hit pretty hard recently, and yet the business is putting up some of the best growth numbers in its history of being a public company. So either the market is seeing something we aren't or it's handing investors a special chance to buy into a business that rarely looks cheap. I'm excited to find the answer to that question. Let's go. Since 2014, with more than 200,000,000 downloads, we have interviewed the world's best investors, studied deeply the principles of value investing, and uncovered many compelling investment opportunities. We focus on understanding businesses and intrinsic value, investing accordingly, and sharing everything we learn with you. This show is not investment advice. It's intended for informational and entertainment purposes only. All opinions expressed by hosts and guests are solely their own, and they may have investments in the securities discussed. Now for your hosts, Sean O'Malley and Kyle Grieve. This is an episode that I'm very excited to do because I've really wanted to cover this business for a while, but the timing just never seemed quite right. So I've covered many businesses on this podcast that we ended up skipping simply because they were just too expensive. But Aritzia, the business that I'm about to cover changes things up a bit. So the price is currently down about 31%, but Aritzia is a business I already own in my personal account and it's actually been there since 2020. Now being a shareholder since that time hasn't been the easiest ride. You know, since owning it. I've gone through multiple drawdowns ranging from 30 to 65%, and I think it's one of those kind of classic case studies of why being able …