Lululemon beat expectations on both its top and bottom line in its latest quarter, saying that business has picked up after a slow start to the year.
The Vancouver-based yoga retailer also said it would shutter most of its ivivva girl’s clothing stores. Shares of Lululemon jumped 10% in after-hours trading.
During the first quarter, net income fell to $31.2 million, or 23 cents per share, from $45.3 million, or 33 cents per share, a year earlier.
