The Vancouver-based retailer said its annual revenue surpassed US$6 billion for the first time and reported net income of roughly US$975 million for its 2021 financial year, up from nearly US$589 million the year prior. (The Logic)

Talking point: Lululemon also approved an up to US$1-billion stock-repurchase program. The company said it expects first-quarter net revenue of between about US$1.53 billion and US$1.55 billion, an increase of 24 to 26 per cent, while it anticipates full-year revenue to be between US$7.49 billion and about $7.62 billion. The sales guidance outpaced analysts’ expectations. CEO Calvin McDonald said on a conference call that the company benefits from trends including continued consumer interest in athleisure, especially as people wear these clothes for more than just working out. The company expects to raise prices on some of its items over the next year, he added. Lululemon’s shares jumped to a high of US$389.14 in mid-day trading, up more than 13 per cent, and closed up more than nine per cent at US$376.92.