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Lululemon generated document annual gross sales as demand for informal attire surged, regardless of provide chain disruptions and Omicron-related staffing challenges.

The athleisure firm additionally introduced a $1bn inventory buyback and forecast that gross sales would develop greater than analysts had forecast in fiscal 2022, whilst extra employees return to the workplace. Lululemon expects full-year web income to be within the vary of $7.49bn to $7.615bn, greater than the consensus estimate of $7.3bn.

The upbeat outlook despatched shares of Lululemon up greater than 7 per cent in after-hours buying and selling.

Known for its yoga pants, Lululemon thrived through the pandemic as shoppers bought comfy athleisure attire to put on at residence. Some shoppers proceed to make money working from home, boosting demand.

In January, Lululemon warned traders that lowered staffing and retailer hours due to the Omicron variant of coronavirus would impression income. It stated on the time that gross sales and earnings had been on observe to settle close to the low finish of its earlier steerage.

Lululemon can also be navigating the provision chain disruptions and value will increase affecting company America. Calvin McDonald, chief government, stated on a name with traders on Tuesday that Lululemon plans to extend costs over the course of the yr on a small portion of types however expects to maintain pricing aggressive with its friends.

The Vancouver-based firm stated full-year gross sales grew 42 per cent yr on yr and got here in at a document $6.3bn. Sales jumped 23 per cent to $2.1bn within the three months to the top of January compared with the fourth quarter a yr in the past.

Lululemon reported a fourth-quarter revenue of $3.37 a share on an adjusted foundation, greater than its forecasted vary of $3.25 to $3.32 a share, and surpassing analysts’ expectations for $3.28.

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