Close X
Sunday, November 24, 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

Transit Police investigate after bus operator bear sprayed in Vancouver

Transit Police investigate after bus operator bear sprayed in Vancouver
The driver was immediately overcome by the effects of the spray as his ability to breathe became impaired. He was treated on scene by the Vancouver Fire Department and while he did not suffer any serious physical injuries, the incident continues to have an impact on his mental well being.    

Transit Police investigate after bus operator bear sprayed in Vancouver

Courts will have to consider COVID delays: experts

Courts will have to consider COVID delays: experts
The pandemic halted in-person court proceedings for months in many provinces over the last two years and put jury trials on hold for long periods of time, exacerbating existing backlogs. Measures such as virtual hearings were implemented to minimize the impact of the pandemic, though not all cases could proceed remotely.    

Courts will have to consider COVID delays: experts

689 COVID19 cases over 3 days

689 COVID19 cases over 3 days
There are 359 individuals hospitalized with COVID-19 and 51 are in intensive care. In the past 72 hours, 14 new deaths have been reported, for an overall total of 2,946.

689 COVID19 cases over 3 days

New EV registrations hit Canadian record in 2021

New EV registrations hit Canadian record in 2021
Statistics Canada says 65,253 new battery-only and plug-in hybrid electric cars were registered in the first nine months of 2021, more than the number registered across 12 months in any previous year.    

New EV registrations hit Canadian record in 2021

B.C. aims to curb catalytic converter thefts

B.C. aims to curb catalytic converter thefts
The Insurance Corporation of B.C. says converter theft claims have climbed from 89 in 2017 to 1,953 last year, totalling more than $4 million in claim costs for 2021.

B.C. aims to curb catalytic converter thefts

Pandemic stalls B.C. associate physician plan

Pandemic stalls B.C. associate physician plan
The College of Physicians and Surgeons of British Columbia proposed the new role of associate physician in April 2020 to address the province's health-care needs, allowing doctors who weren't eligible for a full licence to work under physician supervision.    

Pandemic stalls B.C. associate physician plan