Thursday, October 2nd6.8°C
22738

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

22364


Recent Trending




Today's Market
S&P TSX14805.44-155.069
S&P CDNX896.35-12.94
DJIA16804.71-238.19
Nasdaq4422.085-71.305
S&P 5001946.16-26.13
CDN Dollar0.8976+0.002
Gold1210.80-4.70
Oil87.45-1.66
Lumber344.10+6.30
Natural Gas4.028+0.005

 
Okanagan Companies
Pacific Safety0.135+0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.22-0.04
Cantex0.075+0.01
Anavex Life Sciences0.1804-0.0036
Metalex Ventures0.0550.00
Russel Metals34.68+0.11
Copper Mountain Mining2.29-0.13
Colorado Resources0.16-0.005
ReliaBrand Inc0.019-0.001
Sunrise Resources Ltd0.065+0.045
Mission Ready Services0.31-0.01

 





FEATURED Property
2089671754 Francis
5 bedrooms 3 baths
$398,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


An income investment you may have overlooked

Investors seeking income often limit their selection to bonds and give little or no consideration to preferred shares. They usually ignore preferreds simply because they don't know much about them...


Power-save your way to a down payment

Part 2 of 2 to read Part 1, click here. 5. Dial down your vacations. New York is out. Maybe Buffalo. For West coast, maybe Seattle instead of Hawaii. Use sites like Airbnb (aribnb.ca) to find ch...


A wildly successful manufacturer

Niche food producer “Sweets from the Earth” thrives using innovation, uniqueness and an unwavering focus on quality. A neighbour’s stew turned Ilana Kadonoff off meat at the age of s...

_





23545


Member of BC Press Council


22771