Lululemon athletic is popular for its yoga-inspired self-described athletic apparel company. It runs international clothing stores and produces a clothing line based in Vancouver, British Columbia, Canada. Recently reports revealed that there have been stronger-than-expected periodical proceeds on Thursday, but the port disruptions in the U.S. as well as its delayed store openings has taken a toll on revenue. Canadian retailer’s shares have jumped 10% after it reported the results.
Since March 2013, the once famous stock has been down to 25%, and has continued to operate on its uncomfortable signature yoga pants. The Vancouver-based company admitted that in fourth quarter, its revenue have taken $15 million hit and is currently expecting a revenue of $570 million for the quarter. The company has faced a tough competition once it dominated, and has raised its profit prediction for the year. On average, analysts expected $1.77 earnings per share. The Net income has declined to 42 cents per share or say, $60.5 million in Nov. 2 from the $66.1 million figure. The analysts anticipated earnings of at least 38 cents per share. Its revenue rose to $419.4 million, however it fell short of $424.8 million. From 1.80 billion, the yogawear company slashed its forecast for full-year revenue to $1.78 billion.