Luxury yoga clothing firm Lululemon goes from strength to strength when the men's range turns out to be a hit
City & Finance Reporter for the Daily Mail
Fine figures: sales at Lululemon increased by 25 percent to £ 556.7 million
High-quality yoga clothing specialist Lululemon showed off with impressive sales figures, stimulated by the growth of the men's business.
The Canadian-based retailer, with leggings sold in the UK for up to £ 138, increased its outlook for the year as sales increased by 20 percent.
Sales increased 25 percent to £ 556.7 million, as online sales rose by almost 50 percent and the brand in China saw strong demand for digital products.
Shares in Lululemon, which announced the results of the second quarter late Thursday night, shot up nearly 15 percent yesterday morning in the US.
Analysts at Susquehanna and RBC Capital said the company's revised project projections over a period between £ 2.4 billion and £ 2.5 billion, from £ 2.3 billion to £ 2.4 billion, are likely still & # 39; conservative & # 39; are contributing to the excitement of investors.
The results will have been a pat on the back for the new boss Calvin McDonald, who last month was a member of make-up giant Sephora.
McDonald replaced Laurent Potdevin, who was ousted after the company accused him of failing to comply with his standards of conduct.
Later it turned out that he had a long-term relationship with a female designer at the company.
She resigned after the relationship began, but he returned her as a contractor.
However, her contract was not renewed in January.