Lululemon Athletica has posted a full-year net income increase on the back of higher sales both in the Americas and overseas.

The retailer’s net income soared 81.3 per cent to $1.55 billion as net revenue rose 18.6 per cent to $9.62 billion in the fiscal year ended January 28.

Net revenue in the Americas surged 12 per cent while net revenue overseas jumped 54 per cent. Comparable sales revenue was up 8 per cent in the Americas and 35 per cent internationally.

The company ended the year with 711 locations after 56 net new company-operated stores.

“As we step into 2024, we are focused on the significant opportunities ahead for Lululemon as we navigate the dynamic retail environment and deliver for guests through innovative new products and brand activation,” Lululemon Athletica CEO Calvin McDonald said.

The CEO said the company continues to be ahead of its Power of Three ×2 growth plan, which calls for a doubling of the business from 2021 net revenue of $6.25 billion to $12.5 billion by 2026.

For this fiscal year, the company forecasts net revenue to increase between 11 per cent and 12 per cent.