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Web income elevated to $1.6 billion versus the $1.53 billion anticipated by analysts
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Athletic-wear firm Lululemon reported a 32 per cent rise in first quarter income on Thursday, beating expectations and placing it properly on its technique to assembly a five-year plan to double gross sales by 2026.
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The expansion got here because the Vancouver-based firm launched footwear, golf and tennis merchandise throughout the quarter, which CEO Calvin McDonald stated have all carried out properly and proceed to drive demand.
Web income elevated to $1.6 billion versus the $1.53 billion anticipated by analysts, with North American operations rising by 32 per cent and worldwide by 29 per cent.
Diluted earnings per share had been $1.48, up from $1.11 in the identical interval final 12 months.
Lululemon beforehand introduced that it plans to double its males’s and digital revenues whereas quadrupling worldwide gross sales from 2021 ranges as a part of its development plan.
“These outcomes present a strong basis as we start our subsequent five-year journey,” CEO Calvin McDonald stated throughout Thursday’s earnings name.
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