After just recently announcing plans to close most of their Ivivva stores due to lack of sales, activewear company Lululemon Athletica has now beaten analysts’ predictions and reported a quarterly profit. Shares climbed 15% in after-market trading which Chief Executive Laurent Potdevin said exceeded initial projections. The Ivivva brand caters to the tween girl market and produces clothing for activities such as swimming, yoga and gymnastics. Lululemon plan to close almost all of their 55 Ivivva stores but will still sell the collections online.
SHARES SOAR FOR LULULEMON
