(Vancouver) Lululemon Athletica posted first-quarter net income of US$290.4 million on Thursday, up nearly 53% from US$190.0 million in the same period last year.
The Vancouver-based company said its revenue was $2.0 billion, up 24% from $1.6 billion in the same quarter last year.
Earnings per share for the exercise wear maker and retailer hit US$2.28, down from US$1.48 a year earlier.
Lululemon chief financial officer Meghan Frank said an acceleration in sales in China and lower air freight costs contributed to the company’s better-than-expected financial performance.
Lululemon’s net revenue soared 17% in North America, while it grew 60% internationally.
The company has revised its revenue forecast for the full year and is now targeting revenue of between US$9.4 billion and US$9.5 billion,
