CEO Calvin McDonald said the active brand will make some price increases this year and has plenty of momentum as well as innovation on tap.
While there are plenty of macroeconomic trends that are weighing on most brands — from the turmoil of the war in Ukraine to the pandemic and supply chain backups to inflation — the CEO pointed instead to the big trends in the brand’s favor.
For the full year, Lululemon’s net earnings increased 65.6 percent to $975.3 million, or $7.49 a diluted share, from $588.9 million, or $4.50, in 2020. Revenues increased 42.1 percent to $6.3 billion. Last year the firm bought back 2.2 million shares for a total of $812.6 million and plan to keep going with a new $1 billion repurchase authorization from its board last week.
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