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

Group opposes forced health transfers in B.C.

Group opposes forced health transfers in B.C.
Dying With Dignity says the service is being restricted because of an agreement that allows facilities covered by the Denominational Health Association to collect taxpayer dollars but refuse to perform services they oppose on religious or moral grounds. 

Group opposes forced health transfers in B.C.

Surrey's Vaisakhi parade cancelled third year in a row due to COVID19 concerns

Surrey's Vaisakhi parade cancelled third year in a row due to COVID19 concerns
The magnitude and planning of this event takes a full year to complete and given the tight turnaround between the constantly changing public health order restrictions being lifted and the scheduled date of the parade, organizers did not feel they could responsibly honour the importance and magnitude of the event in this timeline.    

Surrey's Vaisakhi parade cancelled third year in a row due to COVID19 concerns

Not all fleeing Ukraine offered Canadian haven

Not all fleeing Ukraine offered Canadian haven
The Canadian government is allowing Ukrainians who have fled Russian aggression to come to Canada temporarily for a period of two years "for those who need a safe haven while the war ravages their homeland," Immigration Minister Sean Fraser announced last week.

Not all fleeing Ukraine offered Canadian haven

Canada sanctions 10 more Russians over Ukraine war

Canada sanctions 10 more Russians over Ukraine war
The new sanctions came on the first stop of a four-country tour of Europe, as Trudeau meets allies from across the continent to discuss and co-ordinate the West’s response to Russia’s invasion.

Canada sanctions 10 more Russians over Ukraine war

Quick thinking 13 year-old has keen instincts for safety

Quick thinking 13 year-old has keen instincts for safety
Police say the girl refused the offer made while she was walking near the Steveston United Church late yesterday afternoon. They say she refused again when man then offered money as an enticement for a ride and immediately notified her mother after she arrived home.

Quick thinking 13 year-old has keen instincts for safety

Vigil held for security guard Harmandeep Kaur killed at UBC Okanagan

Vigil held for security guard Harmandeep Kaur killed at UBC Okanagan
24 year old Harmandeep Kaur died in a Kelowna hospital after being attacked early last Saturday morning. R-C-M-P say a suspect who was also working at the university was arrested under the Mental Health Act and could face a murder charge.

Vigil held for security guard Harmandeep Kaur killed at UBC Okanagan