Lululemon plans to open 30 to 35 stores outside of North America this year, most of which will be in China. Read more
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Earnings and comparable sales surpassed analysts’ average estimate in the company’s first quarter. For the full year, Lululemon now expects revenue to be as high as US$9.5 billion, compared with a prior estimate of as much as US$9.4 billion. Guidance for the second quarter also came in above analysts’ estimates.Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.
“In contrast to many retailers, Lululemon posted a strong first quarter that should silence most skeptics,” William Blair analyst Sharon Zackfia wrote in a research note.
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