(Lululemon Athletica Inc.) Lululemon Athletica Inc. announced a net income of $208.1 million in the second quarter of 2021, an increase from a net profit of $86.8 million in the same period of last year.
The retailer had a net income of $353.0 million in the first half of the year, up from $115.4 million in the same period of last year.
Lululemon’s net revenue increased to $1.4 billion in the second quarter, from $902.9 million recorded in the same period of last year.
The apparel retailer reported $2.6 billion in net revenue for the first half of the year, in contrast to $1.5 billion in the same period of the prior year.
The company spent $171.1 million in a repurchase of 0.5 million common stock shares at an average price of $338.41 per share.
Lululemon is now forecasting an increase of revenue to between $1.4 and $1.43 billion in the third quarter with the diluted earnings expected to range between $1.28 to $1.33.
In its 2021 outlook, Lululemon expects its revenue to close between $6.1 billion and $6.2 billion with the diluted earnings per share expected to be between $7.16 and $7.26.
LULU: NASDAQ is up +13.69% on pre-market.
