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Lululemon earnings grow

Lululemon Athletica Inc.'s revenue rose 20 per cent during its most recent quarter, outpacing analyst expectations.

The athleisure retailer says its net revenue for the first quarter totalled $782.3 million, up from $649.7 million in the same quarter the previous year.

Analysts surveyed by Thomson Reuters Eikon expected $755.31 million for the quarter ended May 5.

Its net income was $96.6 million for the quarter or 74 cents per share, up from $75.2 million in the same quarter the previous year.

Analysts expected net income of $92.35 million or 70 cents per share, and adjusted net income of $92.74 million, also 70 cents per share.

The company raised its guidance for the full financial year to between $3.73 billion and $3.77 billion in revenue or $4.51 to $4.58 diluted earnings per share.



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