-
Lululemon continues to struggle in first quarter
Despite announcing a $450 million share buyback program in conjunction with its first-quarter results, Lululemon’s shares dropped 10% as it continues trying to regain its footing in an increasingly competitive field.
Net revenue for the quarter increased 11% to $384.6 million from $345.8 million in the prior-year quarter. Sales at stores and online inched up 1%, primarily driven by an online sales increase of 25%, which offset a 4% decrease same-store sales.
-
Restoration Hardware posts strong 1Q
Corte Madera, California — Furniture and housewares retailer Restoration Hardware reported a profit of $1.8 million in the quarter ended May 3, compared with a loss of $161,000 last year. Results topped Wall Street expectations and prompted the company to raise its outlook for the year.
Revenue grew 22% to $366.3 million, from $301.3 million in the year-ago period. Wall Street predicted $346.7 million.