Lululemon Athletica Inc. maintained momentum during its first quarter, reporting better-than-expected sales and earnings.
The athletic apparel retailer reported net income of $290.4 million, or $2.28 per share, for the quarter ended April 30, compared with $190 million, or $1.48 per share, in the year-ago period. Analysts had expected earnings of $1.28 a share.
Net revenue increased 24% to $2.0 billion, ahead of estimates for $1.93 billion. Net revenue increased 17% in North America. Revenue rose 60% internationally, helped by the reopening of China after COVID restrictions.ChainStoreAge