Lululemon (NASDAQ:LULU) reported higher-than-expected earnings for its fourth quarter and full year, as the once struggling brand roars back.
The athleticwear company reported a 6 percent jump in fourth quarter profits while same-store sales increased 4 percent for the quarter and 10 percent for the full year.
Lululemon saw increases across all financial metrics including online sales, gross profit, comparable store sales and earnings.
It's a big change for a brand that suffered declines and scandals beginning with the 2013 recall of yoga pants found to be too transparent.
"In 2015, we made bold moves across the organization, elevating design and innovation and developing our infrastructure to position us for the future," CEO Laurent Potdevin said. "As I look forward to 2016 and beyond, I am excited and confident that we have the right team in place to execute on our long-term strategies."
Lululemon management credited changes to how the company displays yoga pants and the emerging menswear line, which is tapping into a new market for the retailer.
"The unification of men's and women's under one vision is really strengthening the brand, so when you think about selling global stories of functional materials and construction, we now have a platform that really is much larger than it was before," Potdevin said on the company's earnings call, according to The Wall Street Journal.
Next up: The retailer will continue to focus on streamlining operations and controlling costs.
-See this Lululemon financial release
-See this Wall Street Journal article (tiered subscription)
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