(Filed Under Financial and General Interest News). Yoga apparel and activewear retailer Lululemon Athletica, Inc. reported an increase in sales and revenue for the third quarter ended Oct. 30, but gave a cautious outlook for the current quarter based on the rising cost of materials.
Income came to $38.8 million, or 27 cents a share, up from $25.7 million, or 18 cents a share, in the year-ago period. Earnings beat analysts’ expectations of 25 cents a share; however, revenue fell short of Wall Street’s expected $235.7 million. The company’s revenue came to $230.2 million, up 31 percent from $175.8 million last year. Same-store sales rose 16 percent.
Lululemon reported that the cost of materials rose 29 percent during the quarter and is expecting a fourth-quarter net income range of 40 to 42 cents per share on revenue between $327 million to $332 million.
Vancouver-based Lululemon Athletica, Inc. continued its rapid expansion by opening 18 stores in the quarter. The company currently operates 165 retail locations in the U.S., Canada and Australia.
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