By Sabela Ojea
Lululemon Athletica said revenue rose in the latest quarter boosted by its presence in the Chinese market amid a slowdown in growth in the Americas.
The yoga pants maker on Wednesday posted a profit of $321.4 million, or $2.54 a share, compared with $290.4 million, or $2.28 a share, for the same period a year earlier. Analysts surveyed by FactSet had forecast earnings per share of $2.41.
Revenue rose to $2.21 billion from $2 billion, slightly beating the $2.2 billion expected by Wall Street, according to FactSet.
In the Americas region, Lululemon saw revenue growth of 3%, down from a 9% increase in the fourth quarter.
“Guests responded well to our product innovations across categories, and we are pleased by the progress we are making to optimize our U.S. product assortment,” Chief Executive Calvin McDonald said.
Lululemon’s international revenue jumped 35%, mainly boosted by its performance in the Chinese market.
The company’s earnings come shortly after its chief product officer, Sun Choe, said she was resigning after about 6 years leading the merchandising and design teams.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix