Lululemon Athletica Q4 profit nearly triples

New York City Lululemon Athletica said its fiscal fourth-quarter profit almost tripled on leaner inventory and sales of its running products.

Lululemon's earnings for the quarter ended Jan. 31 surged to $28.5 million, from $10.9 million in the same quarter a year before.

Quarterly revenue climbed 55% to $160.6 million, from $103.9 million.

Revenue from company-run stores grew 52% to $137.4 million during the quarter, the company said.

Same-store sales rose 29%.

Lululemon said its sales have picked up as the economy improved, with its performance also benefiting from an expanded line of running products, more value-oriented items and its online debut.

For the year, earnings increased to $58.3 million from $39.4 million in the prior year. Revenue improved to $452.9 million from $353.5 million.