Home / Knowledge / News / Apparel/Garments / Revenue zooms 53% at lululemon in Q1 FY'12
Revenue zooms 53% at lululemon in Q1 FY'12
07
Jun '12
lululemon athletica inc. announced financial results for the first quarter ended April 29, 2012.

For the thirteen weeks ended April 29, 2012:
• Net revenue for the quarter increased 53% to $285.7 million from $186.8 million in the first quarter of fiscal 2011.
• Comparable stores sales for the first quarter increased by 25% on a constant dollar basis.
• Direct to consumer revenue increased 179% to $38.4 million, or 13.5% of total Company revenues, in the first quarter of fiscal 2012, an increase from 7.4% of total Company revenues in the first quarter of fiscal 2011.
• Gross profit for the quarter increased 43% to $157.3 million, and as a percentage of net revenue gross profit decreased to 55.0% for the quarter from 58.7% in the first quarter of fiscal 2011.
• Income from operations for the quarter increased 41% to $73.1 million, and as a percentage of net revenue was 25.6% compared to 27.7% of net revenue in the first quarter of fiscal 2011.
• The tax rate for the quarter was 36.5% compared to 36.3% a year ago.
• Diluted earnings per share for the quarter were $0.32 on net income of $46.6 million, compared to diluted earnings per share of $0.23 on net income of $33.4 million in the first quarter of fiscal 2011.

The Company ended the first quarter of fiscal 2012 with $424.3 million in cash and cash equivalents compared to $260.9 million at the end of the first quarter of fiscal 2011.

Inventory at the end of the first quarter of fiscal 2012 totaled $107.7 million compared to $64.4 million at the end of the first quarter of fiscal 2011. The Company ended the quarter with 180 stores in North America, Australia and New Zealand.

Christine Day, lululemon's CEO stated: “Our strategy to increase inventory levels led to strong revenue growth and earnings performance in the first quarter as our guests responded well to our spring styles and colors.”

Updated Outlook
For the second quarter of fiscal 2012, we expect net revenue to be in the range of $273 million to $278 million based on a comparable-store sales percentage increase in the low double digits on a constant-dollar basis.

Diluted earnings per share are expected to be in the range of $0.28 to $0.30 for the quarter. This assumes 145.7 million diluted weighted-average shares outstanding and a 36.5% tax rate.

For the full fiscal 2012, we now expect net revenue to be in the range of $1,320 million to $1,340 million and diluted earnings per share are expected to be in the range of $1.55 to $1.60 for the full year. This assumes 146.0 million diluted weighted-average shares outstanding and a tax rate of 36.5%.

lululemon athletica is a yoga-inspired athletic apparel company that creates components for people to live a long, healthy and fun life.

lululemon athletica inc

Must ReadView All

Courtesy: Myntra

Apparel/Garments | On 3rd Dec 2016

Myntra to be EBITA positive by FY18: CEO Narayanan

Myntra is on track to achieve sustainable growth and be EBITA...

Courtesy: India ITME Society

Textiles | On 3rd Dec 2016

India ITME 2016 opens with over 1050 exhibitors

The India International Textile Machinery Exhibition (India ITME)...

Courtesy: Bruckner

Textiles | On 3rd Dec 2016

Indian textile companies opt for Brückner stenter lines

Indian textile firms Laxmipati Sarees, makers of polyester sarees and ...

Interviews View All

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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
December 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search