Lululemon Athletica had a profit of US$47.7 million in the second quarter as revenue increased 16% from the same time last year — beating analyst estimates.
The Vancouver-based fashion retailer’s net income, reported in U.S. currency, amounted to 34 cents per share.
That compared with 33 cents per share or $48.7 million in last year’s second quarter, when Lululemon had more shares outstanding. Share buybacks by a company tend to increase per-share profits.
Lululemon’s revenue grew to $453 million from $390.7 million last year.
Direct sales to consumers were $82.2 million, or 18.2% of the sale — up from 16.2% of the total last year.
Lululemon’s profit met analyst estimates for net profit and was one cent per share above their estimates for adjusted earnings. Revenue was above the estimate of $445 million, according to Thomson Reuters.
For the current quarter ending in November, Lululemon said Thursday it expected revenue in the range of $477 million to $482 million. Analysts surveyed by Thomson Reuters had estimated revenue would be $478.40 million.
Lululemon shares have climbed 15% since the beginning of the year. The stock has increased 66% in the last 12 months.
