(Vancouver) Lululemon Athletica posted fourth-quarter profit up nearly 32% on Tuesday, capping a fiscal year that saw its annual revenue top the $6 billion mark for the first time.
Posted at 5:55 p.m.
The Vancouver-based exercise apparel retailer raked in a profit of US$434.5 million, or US$3.36 per share, for its most recent quarter, up from US$329.8 million, or 2, US$52 per share, from the same period a year earlier.
Adjusted earnings for the three months ended Jan. 30 were US$3.37 per share, up from US$2.58 per share in the fourth quarter of 2020.
Revenue rose 23% to US2.13 billion from US1.73 billion a year earlier. Sales of stores open for at least a year advanced by 32% and online sales gained 17%, this time representing 49% of the company’s total revenue.
Analysts on average had expected adjusted earnings per share of US$3.28, from revenue of US$2.14 billion, according to forecasts compiled by financial data firm Refinitiv.
For the full year, Lululemon made a profit of US$975.3 million from revenue of US$6.26 billion. Last year, profit was US$588.9 million and revenue was US$4.4 billion.
In the most recent quarter, Lululemon opened 22 new company-operated stores, bringing its total number of locations to 574.