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Lululemon Q4 profit soars 80 per cent, beating analyst expectations

The Vancouver-based company reported net income of US$218.47 million for the fourth quarter ended Feb. 3, 2019
Lululemon
Lululemon Athletica Inc.'s profit surged more than 80 per cent in its most recent quarter.

VANCOUVER — Lululemon Athletica Inc.'s profit surged more than 80 per cent in its most recent quarter, blowing past analysts expectations.

The Vancouver-based company reported net income of US$218.47 million for the fourth quarter ended Feb. 3, 2019, up 82 per cent from $119.76 million in the same quarter the previous year.

The athletic apparel retailer says earnings per share amounted to $1.85, up from $1.33 in the fourth quarter of the previous year.

Analysts surveyed by Thomson Reuters Eikon expected earnings per share of $1.74.

The company says net revenue was $1.17 billion for the quarter, up nearly 26 per cent from the same quarter the previous year when it reported $928.8 million.

Lululemon says its board of directors approved an additional stock repurchase program for up to $500 million of its common shares.