The Vancouver-based company reported net income of US$218.5 million for the fourth quarter ended Feb. 3, 2019, up 82 per cent from US$119.8 million in the same quarter the previous year.
VANCOUVER — Lululemon Athletica Inc. is planning to expand its product offering and roll out a national loyalty membership plan after its profit surged more than 80 per cent in its most recent quarter, blowing past analysts’ expectations.
Lululemon anticipates continued strength. For the 2019 financial year, it expects net revenue of between $3.7 billion and $3.74 billion based on a total comparable sales increase in the low-double digits on a constant dollar basis. That assumes average foreign exchange rates for the period will remain constant with the average rates for the same period the previous year.
McDonald said the company also sees great opportunity from tests it conducted with a selfcare line including deodorant and shampoo, which he sees as a natural extension for the brand. Lululemon will share more details on its plans for that category at its analyst day in New York next month, he said. The Denver pilot cost members US$148 and confirmed the company’s belief there’s great value in the membership, McDonald said, adding the company will continue to run tests before a national rollout in the coming quarters or year.
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