Lululemon's net revenue up 21% in Q3 2018

The adjusted financial measures exclude the tax expense recognised during Q3 of fiscal 2018 related to the US Tax Cuts and Jobs Act and the costs and related tax effects incurred in connection with the restructuring of the company’s ivivva operations in Q3 of fiscal 2017, said a media release by Lululemon.

The gross profit was $406.8 million, an increase of 26 per cent compared to Q3 of fiscal 2017. The company ended the quarter with 426 stores.

“Lululemon has achieved a high level of success over the past year and has established a solid foundation to continue to build our future. It’s been exciting to see guests around the world respond so strongly to our product offerings and improved digital experience. I look forward to what’s ahead for our brand as we strive to exceed the expectations of our guests,” said Calvin McDonald, chief executive officer of Lululemon.

“We’re pleased with our Q3 results and the strong momentum we continue to see across our business. These results reflect the strategic investments we’ve made and continue to make to achieve our long-term growth objectives. I’d like to thank our educators and teams around the world whose passion and enthusiasm enable this ongoing standout performance,” said Stuart Haselden, chief operating officer, Lululemon.

For Q4 of fiscal 2018, the company expects net revenue to be in the range of $1.115 – $1.125 billion based on a total comparable sales increase in the high-single to low-double digits on a constant dollar basis.

For the full fiscal 2018, the company expects net revenue to be in the range of $3.235 – $3.245 billion based on a total comparable sales increase in the mid-teens on a constant dollar basis. Fiscal 2018 is a 53 week year for the company. (PC)

Fibre2Fashion News Desk – India