Lululemon Athletica Inc forecast annual revenue and profit above estimates on Wednesday, as demand for its comfortable leggings and sports bras remained strong despite the easing of coronavirus restrictions.
The Vancouver-based athleticwear company reported net revenue of $1.2 billion for the first quarter on Thursday, an 88% increase compared to $652.0 million in the prior-year period, driven by the return of store traffic.
The Vancouver-based athleticwear brand announced net revenue of $1.1 billion for the third quarter on Thursday, up 22% compared to the same period in the previous year, as the company’s DTC sales saw strong growth.
Marking the company's first female CFO, Frank will be responsible for the company's finance, tax, treasury, investor relations, asset protection, facilities, operations excellence and strategy functions.
New hires include Adidas executive André Maestrini as executive vice president, international, and former Abercrombie & Fitch Stacia Jones as vice president, global head of inclusion, diversity, equity and action.
Yogawear maker Lululemon Athletica Inc said on Tuesday it was “cautiously optimistic” about the holiday season and forecast current-quarter adjusted profit to fall as much as 20% due to higher marketing expenses.