April 22nd, 2024

Lululemon earnings rise to US$669.5 million in the fourth quarter

By The Canadian Press on March 21, 2024.

VANCOUVER – Lululemon Athletica Inc. says it earned US$669.5 million in its fourth quarter, up from US$119.8 million a year earlier.

The Vancouver-based clothing company’s revenues for the fourth quarter were US$3.2 billion, up from US$2.8 billion a year earlier.

Diluted earnings per share for the quarter ended Jan. 28 were US$5.29, up from 94 cents US.

Earnings for the full fiscal year rose to US$1.6 billion, from US$854.8 million the year before.

The company, which trades in the U.S. on the Nasdaq, says comparable sales and net revenue increased substantially on the international side in 2023, with net revenue up 54 per cent and comparable sales up 35 per cent.

CEO Calvin McDonald says the company saw continued momentum in the fourth quarter across its channels, geographies and merchandise categories.

This report by The Canadian Press was first published March 21, 2024.

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