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Lululemon CEO sees progress in company’s efforts to address past lack of newness

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Lululemon Athletica Inc. says it earned US$351.9 million in its latest quarter as its revenue rose nine per cent.

Tara Deschamps, The Canadian PressZachary Warring, equity research analyst of CFRA, explains what he's looking out for in Lululemon's fourth quarter earnings.

Newness — how fresh a brand’s products and styles appear to consumers — is one of the key ways retailers draw in customers. Lululemon’s product assortment this year has focused largely on its staples — yoga pants, scuba hoodies and sports bras — while the company also saw continued success with its belt bags.

Neil Saunders, managing director of GlobalData, said in a note to investors that he feels many of the newness issues “have largely been corrected.” Its diluted earnings per share for the period ended Oct. 27 amounted to US$2.87 compared with US$1.96.McDonald said the results “exceeded our expectations” and reflected strength the company has seen in its shorts, skirts and leggings in seasonal colours.

In the latest quarter, however, there was weakness in the Americas, where Lululemon’s comparable sales fell by two per cent.

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