Lululemon Athletica Inc. was able to once again achieve growth in sales in the third quarter of the 2023/24 financial year.
As shown in quarterly figures published on Thursday, the Canadian sportswear retailer recorded a 19 percent increase in sales to $2.2 billion in the third quarter. The equivalent of 1.5 billion euros.
The company’s financial report shows that gross profit rose 21 percent to $1.3 billion (€887 million) in the third quarter. However, net profit fell slightly from 255 million Canadian dollars to 248 million.
Lululemon Athletica Inc. expects sales growth of around 18 percent for the fiscal year that will soon end. This growth is expected to bring the company’s full-year revenue to $9.5 billion (€6.4 billion).
This translated article previously appeared on FashionUnited.nl