VANCOUVER -- Lululemon Athletica Inc.'s profit surged more than 80 per cent in its most recent quarter, blowing past analysts expectations.
The Vancouver-based company reported net income of US$218.47 million for the fourth quarter ended Feb. 3, 2019, up 82 per cent from $119.76 million in the same quarter the previous year.
The athletic apparel retailer says earnings per share amounted to $1.85, up from $1.33 in the fourth quarter of the previous year.
Analysts surveyed by Thomson Reuters Eikon expected earnings per share of $1.74.
The company says net revenue was $1.17 billion for the quarter, up nearly 26 per cent from the same quarter the previous year when it reported $928.8 million.
Lululemon says its board of directors approved an additional stock repurchase program for up to $500 million of its common shares.
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