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

Canadian economy grew 4.6% in 2021

Canadian economy grew 4.6% in 2021
The increase of 15.4 per cent for the year was second only to the 17.4 per cent gain recorded in 1983 as the country came out of a recession the previous year.

Canadian economy grew 4.6% in 2021

Canada calls for ICC investigation of Russia

Canada calls for ICC investigation of Russia
Joly announced Canada's intent in Geneva Tuesday after she and other Western officials walked out in the middle of the address by their Russian counterpart, Sergey Lavrov, at the United Nations Human Rights Council.

Canada calls for ICC investigation of Russia

Ottawa to review Russian Aeroflot flight

Ottawa to review Russian Aeroflot flight
In a Twitter post Sunday night, the department said Aeroflot flight 111 violated the prohibition that was imposed earlier in the day in response to Russia's invasion of Ukraine.

Ottawa to review Russian Aeroflot flight

BCREA criticizes cooling-off period for housing

BCREA criticizes cooling-off period for housing
Earlier this month, the Real Estate Board of Greater Vancouver said a lack of supply caused January home sales to slow from a record-setting pace last year, nonetheless pushing the benchmark price up 18.5 per cent from last January, to about $1.2 million.

BCREA criticizes cooling-off period for housing

Police investigate homicide at UBC Okanagan campus

Police investigate homicide at UBC Okanagan campus
The Kelowna RCMP say in a news release Monday that the 24-year-old woman who was allegedly assaulted Saturday morning while working on campus succumbed to her injuries.

Police investigate homicide at UBC Okanagan campus

B.C. gives climate change funds to communities

B.C. gives climate change funds to communities
Municipal Affairs Minister Nathan Cullen said the new program responds to municipalities that have asked for more flexible and consistent funding to implement projects that support the province's climate plans and their own goals.

B.C. gives climate change funds to communities