Shares of the Vancouver-based yoga and althetic apparel and accessories company Lululemon Athletica (Nasdaq:LULU) appear to be on the rise in today’s market.
Shares went up by 3.43% on Thursday and closed at $91.27 USD and look as if they will continue to keep climbing throughout the week.
The company released their fourth quarter and full year fiscal results last week and it was filled with positive increases in their profit and revenue.
Lululemon reported that net revenue, total comparable sales, gross profit, and income of operations all increased–by 18%, 12%, 22%, and 27.6% respectively–compared to the previous year.
>>>Nike Falling Behind as Rival Adidas Dominates Athletic Apparel Market?
Opinions on the Canadian athletic-wear company were on shaky ground when the company’s previous CEO, Laurent Potdevin, suddenly resigned in February 2018, stating that he fell short of Lululemon’s conduct standards.
Although Potdevin never specifically addressed what he had done this resulted in shares during the month of February that fell to a low of $76.67. Shares since the incident seem to be rising again.
Lululemon’s Executive Chairman of the Board, Glenn Murphy, says that the company is “pleased with [their] results for the fourth quarter and fiscal year 2017” and that they plan to continue “to execute successfully on [the company’s] global growth strategies.”
>>>Under Armour Data Breach – Is It Affecting Stocks One Week On?
The company predicts that net revenue for the upcoming first quarter will reach the $2.99 billion CAD to $3.02 billion CAD range.
Compared to the fourth quarter net revenue of 2.6 billion, the company is predicting an increase of approximately $400,000.
The day before Lululemon Athletica released their financial results, the company closed at $80.34, which means that there was an increase of $11.03, since then.
Featured Image: twitter
