Company News

Lululemon revenue beats; does not provide outlook due to coronavirus uncertainty

March 26 (Reuters) - Lululemon Athletica Inc on Thursday beat Wall Street estimates for quarterly revenue, helped by strong demand for its yoga wear and athleisure apparel during the busy holiday season.

However, Vancouver-based Lululemon, which temporarily closed its stores in China and the United States to contain the spread of the coronavirus, did not provide a forecast for the current fiscal year.

Total revenue rose 19.7% to $1.40 billion in the fourth quarter ended Feb. 2. Analysts on average had estimated revenue of $1.38 billion, according to IBES data from Refinitiv.

The company’s net income rose to $298 million, or $2.28 per share, from $218.5 million, or $1.65 per share, a year earlier. (Reporting by Nivedita Balu in Bengaluru; Editing by Maju Samuel)