Lululemon reports 4Q net profit up 34%
Canadian yogawear company Lululemon has reported that its fourth-quarter profit jumped 34%. For the quarter ended January 29, 2012, Lululemon earned $73.5 million, up from $54.8 million, in the same three months a year earlier.
Revenue rose 51% to $371.5 million from $245.4 million. Revenue at stores open at least a year jumped 26% when the effect of changing currency values was excluded, while online sales more than doubled to $50.1 million.
The company has outperformed some of its competitors due to high demand for its yoga, running and other athletic gear. For the full year 2011, Lululemon earned $184.1 million, up from $121.8 million, in 2010. Revenue rose to $1 billion from $711.7 million.
For its full fiscal year, which ends in January 2013, Lululemon said it expects $1.3 billion to $1.33 billion in revenue.
