On Tuesday, Canada based athletic apparel retailer, lululemon Athletica, posted second-quarter financial statements which beat the experts’experts’ prediction, majorly due to strong digital sales. The firm reported an EPS of 74 cents as compared to the expected 54 cents earnings per share, and a revenue of $902.9 million as compared to analysts’analysts’ expected $842.31 million.
In detail, the company’s retail store sales were 51% down from the same period a year before, with net revenue amounting to $287.2million. In contrast, the organisation’s direct-to-consumer digital sales were 155% up, marking net income of $554.3M, a massive rise of 155%.
Lululemon Athletica is performing better than Wall Street exchange, NASDAQ, which is 20.9% up since the beginning of the year. The company’s stock prices are 51% up from January 2020 but are still below the $399.88 record level, which it set on September 02, 2019.
The venture’s shares more than 1% down on Tuesday in after-market trading.