By Canadian Press

Lululemon reports 22 per cent revenue jump to $883M, raises outlook

Sep 5, 2019 | 1:57 PM

VANCOUVER — Lululemon Athletica Inc. says its revenue increased 22 per cent in the second quarter from last year to beat analyst expectations.

The company, which reports in U.S. dollars, says net revenue came in at $883.4 million, compared with $723.5 million for the same quarter last year.

Net income came in at $125 million, or 96 cents per share, compared with $95.8 million or 71 cents per share for the same quarter last year.

Analysts had expected revenue of $845.7 million and earnings per share of 89 cents, according to financial markets data firm Refinitiv.

The Vancouver-based company once again raised its guidance for the year and now expects to pull in $3.8 billion to $3.84 billion in revenue, and earnings per share of $4.63 to $4.70.

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Last quarter the company had raised its forecasted revenue to between $3.73 billion and $3.77 billion, and earnings per share of $4.51 to $4.58.

The Canadian Press