Lululemon Posts Strong Quarterly Results
CBJ — Lululemon Athletica earned a net revenue of $839 million in the first quarter to beat analyst expectations.
Revenue in the quarter ending April 29 was a 25% increase from the same quarter last year, and above the $800 million expected by many analysts.
The company says net income came in at $97.3 million for the quarter, up from $40.5 million for the same quarter last year.
The Vancouver-based clothing retailer says comparable store sales increased eight per cent while direct to consumer net revenue, which largely comes from the company’s website sales, increased 62% compared with a year earlier.