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Lululemon beats analyst forecasts

Canadian yogawear brand Lululemon has reported better-than-expected quarterly profits, helped by higher sales. 

Yoga class at Lululemon at Westfield London

Yoga class at Lululemon at Westfield London

Yoga class at Lululemon at Westfield London

Net revenue for the third quarter of 2016 increased by 13% to $544.4m (£432.3m), up from $479.7m (£380.9m) for the same period last year. Total comparable sales were also up by 7%. 

Despite concerns from analysts that the athleisure market has become saturated, the brand is expecting revenue to reach $765m (£608m) to $785m (£624.3m) in the fourth quarter.

The yoga and athleisurewear company has UK stores in Edinburgh, Richmond, and in London, on Marylebone High Street, Covent Garden, King’s Road, Spitalfields Market and at Westfield London. It has showrooms in Chelsea, Guildford, Manchester and Glasgow.

It is also expected to open a flagship on Regent Street this winter.

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