Wednesday, September 17th16.9°C
23373
22924

Lululemon stretches profits and sales

Yoga-inspired retailer Lululemon Athletica Inc. warned Thursday that it expects slower sales growth in the final three months of this year.

In its outlook, the company (TSX:LLL) projects comparable-store sales growth in the high single digits in the fourth quarter, which began Oct. 29. That's down from 18 per cent comparable-store sales growth in the third quarter.

The restrained outlook came as Lululemon reported a $57.3-million profit in its latest quarter as it grew revenue by 37 per cent.

Vancouver-based Lululemon said it earned 39 cents per diluted share in the third quarter, up from $38.8 million or 27 cents per diluted share a year ago. Revenue amounted to $316.5 million for the quarter ended Oct. 28, up from $230.2 million.

"I am very proud of the team for achieving yet another strong quarter coming in ahead of our expectations," Lululemon chief executive Christine Day said in a statement.

"Our stellar results were driven by first-rate execution, strong community engagement, beautiful product and continued strength in our e-commerce business."

During the third quarter, Lululemon opened 12 stores to bring its total to 201 locations.

Last month, Lululemon settled a patent infringement case against Calvin Klein and its manufacturer that claimed they copied a specific overlapping style of waistband. Terms of the deal were not disclosed, but Lululemon said the lawsuit will be dismissed as a result.

Shares in Lululemon were up $2.13 at $70.17 in trading on the Toronto Stock Exchange.

The Canadian Press


Read more Business News

23021


Recent Trending




Today's Market
S&P TSX15438.78-71.76
S&P CDNX972.64-3.06
DJIA17130.81-1.16
Nasdaq4551.422-1.337
S&P 5001997.50-1.48
CDN Dollar0.9141+0.0026
Gold1236.40-0.2999
Oil93.92-0.96
Lumber349.00+1.00
Natural Gas4.083+0.02

 
Okanagan Companies
Pacific Safety0.165-0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.29-0.01
Cantex0.06-0.01
Anavex Life Sciences0.2361-0.0139
Metalex Ventures0.060.00
Russel Metals36.07+0.12
Copper Mountain Mining2.74+0.05
Colorado Resources0.155-0.005
ReliaBrand Inc0.027+0.003
Sunrise Resources Ltd0.02-0.005
Mission Ready Services0.285-0.015

 



21196

FEATURED Property
2072892YOU FOUND IT! Looking for a home with...
$399,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Power-save your way to a down payment

Part 1 of 2 Photo: Thinkstock.com1. Move in with your parents or in-laws Explain that you're thinking strategically in moving back home. The quickest way to get into the housing market is to ma...


Price Guarantees

Article written by Linda Bustos Though I’d never recommend “lowest prices” as a unique selling proposition, I notice many retailers use a Price Match Guarantee or even a 110% Guara...


Brangelina and Celebrity vs Philanthropy

This week my wife wrote a blog for our charities website, I thought you may enjoy reading it here: I was planning to write about the incredible philanthropic Miss Angelina when, funnily enough, she ...

_








Member of BC Press Council


23123