Lululemon Athletica Inc.'s (NASDAQ: LULU) public image blunders over see-through pants and insensitive comments about women's figures haven't managed to diminish its latest profits or revenue.
The Vancouver-based yoga wear company reported on March 27 a net income of $109.7 million during the fourth quarter of 2013. Its profits were virtually identical during the same period last year, when it brought in $109.4 million.
"As we move into 2014, we are reflecting on our learnings with humility, and are entirely focused on our future," newly appointed CEO Laurent Potdevin said in a statement.
"(This year) is an investment year with an emphasis on strengthening our foundation, reigniting our product engine, and accelerating sustainable and controlled global expansion."
The company expands into Europe on March 28, with the opening of a 3,100-sqaure-foot store in London.
Meanwhile, net revenue for the fourth quarter went up 7%, climbing to $521 million compared with $485.5 million during the same period in 2012.
Lululemon said it expects net revenue to be $1.7-1.8 billion for the fiscal year of 2014.
This year also marks the launch of a new clothing line, "&go," which features yoga wear that can double as street clothes.
"Lululemon's magic has been built by creating technical beautiful product and sharing our distinct culture with our communities," Potdevin said. "
The emotional connection that lululemon creates is at the heart of what we stand for, and we are being relentless in our commitment to delivering a distinct and authentic experience that is unlike any other."
