Lululemon beats estimates on first quarter revenue as efforts to boost sales pay off

Lululemon beats estimates on first quarter revenue as efforts to boost sales pay off

Canadian athletic apparel maker Lululemon Athletica Inc reported better-than-expected first-quarter revenue as efforts to boost sales at its stores and online investments paid off.

Lululemon’s revenue rose to US$782.3 million in the three months ended May 5, from US$649.7 million a year ago. Analysts on average had estimated revenue of US$755.3 million, according to IBES data from Refinitiv.

Net income rose to US$96.6 million, or 74 US cents per share, from US$75.2 million, or 55 US cents per share, a year earlier.

© Thomson Reuters 2019

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