Lululemon boosts profit 28% and grows 20% in first quarter
The Canadian sports clothing items company billed 782.3 million dollars (782.3 million euros) between February and April thanks to the opening of fifteen stores.
Lululemon kicks off 2019 in a good shape. The Canadian sports clothing items company closed the first quarter with a 28.6% increase in profit, which allowed it to earn 96.6 million dollars (85.3 million euros). The company grew at double-digit to 782.3 million dollars (691.2 million euros), 20.4% more.
By comparable stores, the growth was 6%, which is why the company attributes a large part of the growth to store opening. In total, the company opened fifteen establishments, which raised its network to 455 points of sale in Canada, the United States, the United Kingdom, France and Germany. "The brand is going through a great moment in terms of business," said the CEO of Lululemon, Calvin McDonald.
For the second quarter of the year the company expects sales to oscillate between 825 million and 835 million dollars (between 729 million and 737.8 million euros), and for the remainder of the year is expected to exceed 3,730 million dollars (3,295 million euros).
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