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VANCOUVER, Canada — Yogawear maker Lululemon Athletica Inc. posted second-quarter profit that just topped analysts' estimates after new tank tops and floral bottoms helped fuel sales.
Profit was 34 cents a share in the quarter ended Aug. 2, the Vancouver-based company said in a statement Thursday. The average of analysts’ estimates compiled by Bloomberg was 33 cents.
Chief Executive Officer Laurent Potdevin is increasing the company's stock of seasonal products that have a stylish elements — like open-backed tops and floral-patterned leggings — to appeal to customers wearing the clothing outside of yoga studios. The retailer also is working to expand its international presence and increase its foothold among male customers by adding more floor space for men's products.
The company said it expects full-year revenue of $2.03 billion to $2.06 billion and diluted EPS of $1.87 to $1.92. In June, Lululemon forecast sales of $2 billion to $2.05 billion and diluted EPS of $1.86 to $1.91.
By Lindsey Rupp; editors: Nick Turner, Thomas Mulier, Marthe Fourcade.
