Close X
Saturday, November 23, 2024
ADVT 
National

Lululemon extends hot streak to end of fiscal year

Darpan News Desk The Canadian Press, 29 Mar, 2022 03:01 PM
  • Lululemon extends hot streak to end of fiscal year

VANCOUVER - Lululemon Athletica Inc. capped an exceptional year in which it surpassed US$6 billion in revenues for the first time, with net profits growing nearly 32 per cent in the fourth quarter.

The Vancouver-based athletic clothing company, which reports in U.S. dollars, says it earned US$434.5 million or US$3.36 per diluted share in the quarter, up from US$329.8 million or US$2.52 per share a year earlier.

Adjusted profits for the three months ended Jan. 30 were US$3.37 per diluted share, up from US$2.58 per share in the fourth quarter of 2020.

Revenues increased 23 per cent to US$2.13 billion from US$1.73 billion, with total comparable sales increasing 32 per cent and e-commerce revenue rising 17 per cent to represent 49 per cent of total revenues.

Analysts on average expected Lululemon to report US$3.28 per share in adjusted profits on US$2.14 billion of revenues, according to financial data firm Refinitiv.

For the full-year, it earned US$975.3 million on US$6.26 billion of revenues, up from US$588.9 million on US$4.4 billion of revenues in 2020.

"2021 was another successful year for Lululemon, which speaks to the enduring strength of our brand and our ability to deliver sustained growth across the business," stated CEO Calvin McDonald in a news release.

The company opened 22 net new company-operated stores during the quarter, ending with 574 stores.

MORE National ARTICLES

A man allegedly pushed a stranger down a flight of stairs at a downtown SkyTrain station

A man allegedly pushed a stranger down a flight of stairs at a downtown SkyTrain station
One of the suspects followed the victim to the SkyTrain entrance and pushed him down a flight of stairs. As the victim was laying on the ground, the suspect allegedly kicked the victim before a passersby intervened. The suspect fled the area before police arrived.    

A man allegedly pushed a stranger down a flight of stairs at a downtown SkyTrain station

Poll suggests wide worries about inflation

Poll suggests wide worries about inflation
Four-fifths of respondents to the Leger poll had started or planned to buy cheaper items at the grocery store to save on food bills, and cut back on how much food they throw out to stretch every dollar.

Poll suggests wide worries about inflation

Hate crimes up 37 per cent in 2020: StatCan

Hate crimes up 37 per cent in 2020: StatCan
New data from Statistics Canada show the number of hate crimes reported to police across the country went up 37 per cent in the first year of the COVID-19 pandemic compared with the previous year. The agency says 2,669 hate crimes were reported in 2020 — the highest number since comparable data became available in 2009.

Hate crimes up 37 per cent in 2020: StatCan

NACI favours Pfizer over Moderna vaccine for kids

NACI favours Pfizer over Moderna vaccine for kids
The National Advisory Committee on Immunization has released new guidelines that favour giving kids a Pfizer-BioNTech COVID-19 vaccine over the newly approved Moderna version. Health Canada approved Moderna's pediatric COVID-19 vaccine for kids ages six to 11 on Thursday.

NACI favours Pfizer over Moderna vaccine for kids

Bump in COVID-19 cases expected, says Tam

Bump in COVID-19 cases expected, says Tam
In Canada, the daily average number of people in hospital with COVID-19 declined by 11 per cent since last week, and the number of people in intensive care declined by 14 per cent.

Bump in COVID-19 cases expected, says Tam

Charest says Tories must pick 'adult in the room'

Charest says Tories must pick 'adult in the room'
Federal Conservatives and their supporters have long been calling for the removal of vaccine mandates for domestic air travellers, public servants and those working in federally regulated industries.

Charest says Tories must pick 'adult in the room'