by Apparel Resources News-Desk
28-March-2019 | 1 min read
Lululemon Athletica Inc. has issued a positive outlook after the athleisure retailer posted better-than-expected results in the fourth quarter.
The Vancouver-based company said it earned net income of US $ 218.5 million, or US $ 1.65 per share, in the Q4.
The athletic apparel maker posted revenue of $1.17 billion in the three months ended Feb. 3, up 26 percent from a year earlier and also surpassing Street forecasts of $1.15 billion.
Strong sales during the holiday quarter helped the company reach its goal of exceeding $1 billion earlier than expected. Revenue rose to $1.17 billion from $928 million in the year-ago quarter.
“Lululemon has delivered one of its strongest years yet, a result of broad-based strength across the business. We are energized to build upon our momentum and to seize the many opportunities ahead for Lululemon around the world.” – Calvin McDonald, CEO, Lululemon Athletica
With its core women’s business, it is trying to expand offerings for the office, travel, commute, outerwear, and bras. Developing gear for warm weather runs is another opportunity.
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