The Daily Chase: Federal budget allocates $43B to new investments; Lululemon tops Q4 expectations
BNN Bloomberg
Looks like a path back to a balanced budget is off the table for the time being.
LULULEMON TOPS Q4 EXPECTATIONS, SHARES SOAR
Shares of Lululemon are surging in the premarket (up 16 per cent at last check) after the company topped fourth quarter profit and revenue expectations and delivered a somewhat rosy outlook for the year ahead. The athletic-wear company sees net revenue coming in as high as US$9.4 billion this coming year, easily topping street expectations for US$9.1 billion. As for the quarter itself – global sales were up 30 per cent in Q4, and those pesky inventory buildups we’ve seen across the retail landscape seem to be easing. While inventories were up 50 per cent year-over-year in the fourth quarter, hitting US$1.4 billion, that was lower than the figure a quarter prior, when inventories totalled US$1.85 billion.
DOLLARAMA POSTS Q4 BEAT, RAISES DIVIDEND
