Lululemon ups forecast, tops expectations with double-digit earnings growth

Lululemon Athletica Inc. reported an 18 per cent surge in profits last quarter, prompting it to raise its fiscal forecast for the year after beating expectations.

Lululemon Athletica Inc. reported an 18 per cent surge in profits last quarter, prompting it to raise its fiscal forecast for the year after beating expectations.

The Vancouver-based company, which reports in U.S. dollars, says net income jumped to US$341.6 million in the three months ended July 30 from US$289.5 million a year earlier.

The retailer says net revenue in its second quarter also rose 18 per cent to US$2.21 billion from US$1.87 billion the year before.