Lululemon Athletica Inc. reported Thursday that third-quarter earnings more than tripled, continuing its growth trajectory since going public last summer, and the yogawear company raised its guidance for 2007.For the three months ended Oct. 31, Lululemon said net income increased to $7.6 million, or 11 cents a diluted share, from $1.7 million, or 2 cents, in the same period in 2006.Sales for the period climbed 84 percent to $66.1 million from $36 million, propelled by 27 new store openings and strong same-store sales in existing units. Lululemon has opened eight stores in the month since the quarter ended and plans to open three more in the fourth quarter, then 30 to 35 stores in fiscal 2008.For the first nine months of the fiscal year, earnings increased 139 percent to $16.2 million from $6.8 million. Sales for the first three quarters grew 75 percent to $169.6 million from $96.7 million.The Vancouver-based company also raised its guidance for 2007 to 40 cents to 42 cents a diluted share, up from 30 cents to 33 cents previously, assuming same-store sales growth of 20 percent or more annually.Lululemon launched an initial public offering in July that raised $327.6 million, and shares are trading at more than double the $18 offer price. The stock was up $1.04 on Thursday to close at $41.54.During a conference call, company executives said a controversy over the VitaSea line had not damaged purchases of the line, which represents about 1 percent of total sales. The New York Times reported this month that the VitaSea line did not appear to contain the seaweed benefits promoted on its educational tags and content label. The newspaper said it got a tip from a Lululemon investor, who was shorting the stock, and commissioned a separate lab test to compare the contents of a cotton J. Crew T-shirt with a VitaSea-line shirt. The test confirmed no significant difference in mineral levels but could not rule out the presence of seaweed entirely. The company has removed the health benefits claims from VitaSea tags."We stand behind the integrity of our product and processes, including VitaSea," Bob Meers, Lululemon chief executive officer, said on the call.
“I like everything she does,” said @lilkimthequeenbee about @parishilton at Hilton’s launch party for her collab with @boohoo. “She understands women and the certain body types. I think her clothes are so cute. It’s hot. She’s funny, but sexy at the same time, just like me.” #wwdeye (📸 @chelsealaurenla ) #parishilton #boohoo #lilkim
“It has to be authentic and real to me,” @charlotteslawrence tells WWD’s @leighen about writing her own music. “No matter what I’m singing, I have to still be able to feel it in that moment or in five years from now — I have to be able to connect to that moment: this is my story, this is a little piece of me.” Read more on wwd.com (📸: @jgreenery ) #wwdeye #charlottelawrence
To celebrate Pride 2018, @themarcjacobs released the #GratefulNotHateful campaign, a social media initiative aimed at extending Pride beyond the parade. Inspired by Jacobs’ everyday outlook, the campaign features Jacobs along with a group of models and social media stars who are members and supporters of the LGBT community, all seen wearing @marcbeauty’s Highliner Gel Eye Crayons in colors of the rainbow. Head to our Instagram stories to see close-ups of the liner. #wwdbeauty