Home / Knowledge / News / Apparel/Garments / Staggering performance in third quarter - lululemon
Staggering performance in third quarter - lululemon
03
Dec '11
lululemon athletica inc. announced financial results for the third quarter ended October 30, 2011.

For the thirteen weeks ended October 30, 2011:
• Net revenue for the quarter increased 31% to $230.2 million from $175.8 million in the third quarter of fiscal 2010.
• Comparable stores sales for the third quarter increased by 16% on a constant dollar basis.
• Direct to consumer revenue increased 71% to $23.9 million, or 10.4% of total Company revenues, in the third quarter of fiscal 2011, an increase from 8.0% of total Company revenues in the third quarter of fiscal 2010.
• Gross profit for the quarter increased 33% to $128.5 million, and as a percentage of net revenue gross profit increased to 55.8% for the quarter from 55.1% in the third quarter of fiscal 2010.
• Income from operations for the quarter increased 41% to $59.7 million, and as a percentage of net revenue was 25.9% compared to 24.1% of net revenue in the third quarter of fiscal 2010.
• The tax rate for the quarter was 35.5% compared to 38.9% a year ago. The decrease resulted from a revision to management's plans for repatriation of unremitted earnings of the Canadian operating subsidiary.
• Presented on a post-split basis, diluted earnings per share for the quarter were $0.27 on net income of $38.8 million, compared to diluted earnings per share of $0.18 on net income of $25.7 million in the third quarter of fiscal 2010.

For the thirty-nine weeks ended October 30, 2011:
• Net revenue for the first three quarters increased 35% to $629.3 million from $466.3 million in the same period of fiscal 2010.
• Comparable stores sales for the first three quarters increased by 18% on a constant dollar basis.
• Direct to consumer revenue increased 72% to $56.2 million, or 8.9% of total Company revenues, in the first three quarters of fiscal 2011, an increase from 7.0% of total Company revenues in the first three quarters of fiscal 2010.
• Gross profit for the quarter increased 43% to $360.3 million, and as a percentage of net revenue gross profit increased to 57.2% for the first three quarters from 53.9% in the same period of fiscal 2010.
• Income from operations for the first three quarters increased 57% to $170.9 million, and as a percentage of net revenue was 27.2% compared to 23.4% of net revenue in the same period of fiscal 2010.
• The tax rate for the first three quarters was 35.8% compared to 39.7% a year ago. The decrease resulted from a revision to management's plans for repatriation of unremitted earnings of the Canadian operating subsidiary.
• Presented on a post-split basis, diluted earnings per share for the first three quarters were $0.76 on net income of $110.5 million, compared to diluted earnings per share of $0.47 on net income of $67.1 million in the same period of fiscal 2010.

The Company ended the third quarter of fiscal 2011 with $276.9 million in cash and cash equivalents comparedto $224.8 million at the end of the third quarter of fiscal 2010. Inventory at the end of the third quarter of fiscal 2011 totaled $129.2 million compared to $73.0 million at the end of the third quarter of fiscal 2010. The Company ended the quarter with 165 stores in North America and Australia.


Must ReadView All

Textiles | On 16th Aug 2017

USITC to continue investigations on PSF imports

The US International Trade Commission (USITC) has determined that...

Textiles | On 16th Aug 2017

India’s apparel exports stumble in July 2017

Exports of readymade garments (including those made of cotton,...

Apparel/Garments | On 16th Aug 2017

EU displaces Japan as Myanmar’s largest apparel market

After the reinstatement of Generalised Scheme of Preferences (GSP)...

Interviews View All

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

August 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
66.7%
No
18.5%
Skip
14.8%

Total Votes: 27

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
37.0%
No
40.7%
Skip
22.2%

Total Votes: 27

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
81.5%
No
7.4%
Skip
11.1%

Total Votes: 27

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
55.6%
No
11.1%
Skip
33.3%

Total Votes: 27


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X