Lululemon Athletica Inc., a yoga-inspired athletic apparel firm, has announced its financial results for the third quarter, registering better-than-expected results in the ongoing fiscal year. The revenue for the Canada-based apparel label was up by 21 per cent.
Notably, the total comparable sales rose 17 per cent (18 per cent on a constant dollar basis).
The net income recorded a rise of 59.3 per cent from the same period of the corresponding year. Diluted earnings per share were 71 cents as against 41 cents last year and adjusted diluted earnings per share were 75 cents compared to 57 cents during the prior year.
During the reporting quarter ended October 28, the Canadian retailer reported revenue of US $ 748 million, which was US $ 619 million during the previous year. Furthermore, net income also surged up to US $ 94.4 million. The profit margin of the company increased to 12.6 per cent as against 9.5 per cent previously.
“Guests are seeing value beyond just the product, the activewear brand has fetched a high level of success over the past year and has built a solid platform to continue to build the brand’s future. It’s been thrilling to see guests around the world respond so strongly to our product assortment and enhanced digital experience.” – Calvin McDonald, CEO, Lululemon
However, its share took a dip when the company announced less-than-expected results for the upcoming Q4. The company is expecting the earnings to be at US $ 1.13 billion in the fourth quarter.
