Lululemon Athletica Inc. more than doubled second-quarter profits, propelled by a 56 percent increase in sales.
Net income attributable to the firm jumped to $21.8 million, or 30 cents a diluted share, from $9.2 million, or 13 cents, a year ago. Profits topped Wall Street’s estimate by 6 cents a share.
Revenues for the three months ended Aug. 1 advanced to $152.2 million from $97.7 million on a 31 percent comparable-store sales increase, on a constant-dollar basis.
“We achieved $1,532 in sales per square foot for the second quarter, driven by the exceptional performance of our newest stores,” said Christine Day, chief executive officer.
For complete coverage, see Monday’s WWD.