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

Businesses to charge a minimum fee on single-use cups: City of Vancouver

Businesses to charge a minimum fee on single-use cups: City of Vancouver
The charge was imposed January 1st — in part to reduce some of the estimated 80-million coffee and beverage cups thrown away in Vancouver every year — but unintentionally added costs to meal voucher recipients or those using gift cards or reward programs.

Businesses to charge a minimum fee on single-use cups: City of Vancouver

Investigation continues into house explosion

Investigation continues into house explosion
Constable Gary O'Brien says police will be checking to see if foul play was involved. He says crews have managed to remove debris from the site of the flattened home and check the basement and other areas.    

Investigation continues into house explosion

Illegal drug dispensary operates as a tattoo studio shut down after allegedly selling to youth

Illegal drug dispensary operates as a tattoo studio shut down after allegedly selling to youth
Officers seized cannabis products, magic mushrooms (psilocybin), and suspected MDMA. The dispensary has now been shut down. While cannabis is legal to purchase and consume in Canada, there are strict regulations in place, including where products can be purchased. 

Illegal drug dispensary operates as a tattoo studio shut down after allegedly selling to youth

Serious Collision in South Surrey leads to road closures

Serious Collision in South Surrey leads to road closures
Due to the serious nature of the collision 184 Street is closed in both directions between 40 Avenue and 32 Avenue while police investigate the cause of the collision. The investigation is in the early stages and it is unknown how long road closures will remain in effect.

Serious Collision in South Surrey leads to road closures

Fed's Powell: Russia's war on Ukraine will worsen inflation

Fed's Powell: Russia's war on Ukraine will worsen inflation
Consumer prices are already rising at their fastest pace in four decades, having jumped 7.5% in January compared with 12 months earlier. Gas prices, a key driver of that increase, have soared 40% over the past year. 

Fed's Powell: Russia's war on Ukraine will worsen inflation

Federal government warns Canadians against fighting for Russia in Ukraine

Federal government warns Canadians against fighting for Russia in Ukraine
Deputy Prime Minister Chrystia Freeland delivered the warning to anyone contemplating joining the Russian military invasion of Ukraine on Thursday as she announced more Canadian sanctions on Moscow and support for Kyiv in response to that attack.

Federal government warns Canadians against fighting for Russia in Ukraine