Lululemon shares up more than 10% after reporting Q4 revenue up 30% from year ago
Lululemon shares up more than 10% after reporting Q4 revenue up 30% from year ago
Lululemon Athletica's logo is seen on the outside of their new flagship store on Robson Street during its grand opening in downtown Vancouver, B.C., on Thursday August 21, 2014. (THE CANADIAN PRESS/Darryl Dyck)
Shares of Lululemon Athletica Inc. climbed more than 10 per cent in early trading after the company reported its net revenue for its fourth quarter rose 30 per cent compared with a year ago.
Shares in the retailer were up US$46.96 at US$367.27 in early trading on the Nasdaq market.
Lululemon, which keeps its books in U.S. dollars, reported after the close of markets Tuesday that it earned net income of US$119.8 million or 94 cents per diluted share for the quarter ended Jan. 29 as it recorded post-tax impairment and other charges related to its Mirror business totalling US$442.7 million.
The company earned US$434.5 million or US$3.36 per diluted share in the same quarter a year earlier.
On an adjusted basis, the company says it earned US$4.40 per diluted share in its latest quarter, up from an adjusted profit of US$3.37 per diluted share a year earlier.
Net revenue for the quarter totalled US$2.77 billion, up from US$2.13 billion.
In its outlook, Lululemon says it expects revenue in the first quarter of its 2023 financial year to be in a range of US$1.89 billion to US$1.93 billion. Diluted earnings per share are expected to be in a range of US$1.93 to US$2 for the quarter.
Danielle Smith will return to the Alberta legislature as premier after the United Conservative Party won the provincial election over Rachel Notley's NDP on Monday night.
NDP Leader Jagmeet Singh is pushing for special rapporteur David Johnston to 'step aside' from his role examining the issue of foreign interference before he embarks on public hearings.
New Democrat MP Jenny Kwan said Monday that Canada's spy agency has confirmed her long-held belief she is being targeted by the Chinese government, as the prime minister granted the NDP's wish to allow more party members to review top-secret intelligence.
William Karlsson, William Carrier and Jonathan Marchessault are finally getting another chance in the Stanley Cup Final, after the first one that came so quick for the Vegas Golden Knights.
Eastern Conference finals Most Valuable Player Jimmy Butler scored 28 points, and Caleb Martin had 26 points and 10 rebounds to help the eighth-seeded Miami Heat beat the Celtics 103-84 in Game 7 on Monday night and advance to the NBA Finals for the second time in four seasons.
Canadian political leaders and parliamentarians are denouncing a new law passed in Uganda that imposes harsh penalties, including the death penalty, for certain cases involving homosexuality.
There's a heightened risk of wildfires across the country during what has been one of the earliest fire seasons on record. From British Columbia to Nova Scotia, here's where the risk is highest.
Capital Bike is encouraging Greater Victoria residents to choose cycling as a way to get around the region during "Go By Bike Week," which runs from May 29 to June 4.
Danielle Smith will return to the Alberta legislature as premier after the United Conservative Party won the provincial election over Rachel Notley's NDP on Monday night.
One long-time electoral tradition came to an end on election day, when Postmedia announced there would be no printed newspaper announcing the winner in Calgary.
Danielle Smith will return to the Alberta legislature as premier after the United Conservative Party won the provincial election over Rachel Notley's NDP on Monday night.
Over 170,000 elementary and high school students weighed in on the Alberta election and the NDP had to hope the real voters were listening, because they won the kids' vote.
The union representing the majority of Quebec's daycare workers is criticizing the government's decision to launch a skimpy 90-hour training program for people who want to be daycare workers but have no prior experience.
A Quebec driver who caused the death of another motorist when he swerved his truck to avoid hitting a family of ducks on the road has been sentenced to eight months in jail and a three-year driving ban.
A Winnipeg family is asking for help to find their missing teenage son whom they haven't seen since he left for school in the Fort Richmond area last Wednesday morning.
The body of a Winnipeg boy who fell into Sturgeon Falls on Saturday has been found following a desperate underwater search that lasted more than a day.
In a province where there are vast distances between cities and towns, one local group is hoping to get public support for an idea to bridge those gaps with a rail line.
The first twister of 2023 in the country touched down near Regina over the weekend, according to an analysis from the Northern Tornadoes Project (NTP).
One person from Estevan, Sask. is dead and another is seriously injured following a collision between a pickup truck and a motorcycle on May 28 near Fortuna, North Dakota.
The body of a Winnipeg boy who fell into Sturgeon Falls on Saturday has been found following a desperate underwater search that lasted more than a day.
The rural Oxford County intersection where an OPP officer and a school bus driver were killed Monday was less than a month away from becoming a four-way stop when the deadly crash happened.
It was a night of indecision at Waterloo region's catholic school board as trustees went back and forth trying to find the best approach to fill a vacant seat.
Lululemon Athletica's logo is seen on the outside of their new flagship store on Robson Street during its grand opening in downtown Vancouver, B.C., on Thursday August 21, 2014. (THE CANADIAN PRESS/Darryl Dyck)
