Lululemon returns to growth

30/03/2017
Athletic apparel brand Lululemon increased its net revenue to $2.3 billion (US) its 2016 fiscal year (which ended on January 29, 2017). This represents growth of 14% compared to the figure for 2015.

Profits before tax for the year increased by 20%, the Vancouver-based company said, reaching $1.2 billion.

Chief executive, Laurent Potdevin, said on announcing the results that 2016 had been “a milestone year” with what he called “successful execution against long-term strategies” resulting in the first operating income growth for three years.