Lululemon Athletica Inc.’s share price tumbled 20 per cent in afterhours trading as the company revealed its profit slid in its latest quarter.
The Vancouver-based athletic retailer says its first-quarter net income totalled US$314.6 million, down from US$321.4 million in the same period a year earlier.Â
Profits at the company, which keeps its books in U.S. dollars, amounted to US$2.60 per diluted share, up from US$2.54 per diluted share a year prior.
Net revenue for the period ended May 4 was about US$2.37 billion compared with US$2.21 billion a year earlier.
Lululemon's comparable sales increased one per cent overall but fell by two per cent across the Americas.
The quarter encompasses a period when the U.S. was lobbing tariffs at Canada and Lululemon was working to bring more newness to its product range.
This report by The Canadian Press was first published June 5, 2025.
