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Q3FY’12 revenues leap 37% at Lululemon Athletica

December 07, 2012 (United States Of America)

lululemon athletica inc. announced financial results for the third quarter ended October 28, 2012.

For the thirteen weeks ended October 28, 2012:

· Net revenue for the quarter increased 37% to $316.5 million from $230.2 million in the third quarter of fiscal 2011.

· Comparable stores sales for the third quarter increased by 18% on a constant dollar basis.

· Direct to consumer revenue increased 89% to $45.1 million, or 14.3% of total Company revenues, in the third quarter of fiscal 2012, an increase from 10.4% of total Company revenues in the third quarter of fiscal 2011.

· Gross profit for the quarter increased 36% to $175.3 million, and as a percentage of net revenue gross profit decreased to 55.4% for the quarter from 55.8% in the third quarter of fiscal 2011.

· Income from operations for the quarter increased 35% to $80.6 million, and as a percentage of net revenue was 25.5% compared to 25.9% of net revenue in the third quarter of fiscal 2011.

· The tax rate for the quarter was 30.1% compared to 35.5% a year ago. The lower effective rate reflects the ongoing impact of revised intercompany pricing agreements.

· Diluted earnings per share for the quarter were $0.39 on net income of $57.3 million, compared to diluted earnings per share of $0.27 on net income of $38.8 million in the third quarter of fiscal 2011.

For the thirty-nine weeks ended October 28, 2012:

· Net revenue for the first three quarters increased 41% to $884.9 million from $629.3 million in the same period of fiscal 2011.

· Comparable stores sales for the first three quarters increased by 19% on a constant dollar basis.

· Direct to consumer revenue increased 112% to $119.0 million, or 13.4% of total Company revenues, in the first three quarters of fiscal 2012, an increase from 8.9% of total Company revenues in the first three quarters of fiscal 2011.

· Gross profit for the first three quarters increased 36% to $488.3 million, and as a percentage of net revenue gross profit decreased to 55.2% for the first three quarters from 57.3% in the same period of fiscal 2011.

· Income from operations for the first three quarters increased 31% to $223.9 million, and as a percentage of net revenue was 25.3% compared to 27.2% of net revenue in the same period of fiscal 2011.


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