News
« Louis Boston To Relocate Off Newbury St. | | Europe, Asia Boost Tiffany's Q1 Income »
June 03, 2008
Lululemon's sales, income soar on new stores
Lululemon Athletica’s first-quarter sales soared 75% to $78.2 million, driven by strong same-store sales and 27 new locations. Meanwhile, the Canadian company’s income for the period ended May 4th soared 139% to $8.5 million.
Despite the rosy results, the company lowered its forecasts for fiscal 2008, citing rising employee costs and spending on strategic initiatives.
Lululemon has seen substantial growth by tapping into the yoga and fitness markets. It plans to open 35 new stores annually and predicts that same-store sales growth will hit the high single-digits or low teens.
Posted by Blacks on June 3, 2008 12:18 PM
