Home / Knowledge / News / Apparel/Garments / lululemon athletica Q3 net revenue up 34% to $87 mn
lululemon athletica Q3 net revenue up 34% to $87 mn
16
Dec '08
lululemon athletica inc announced financial results for the thirteen weeks ended November 2, 2008.

Net revenue increased 34% to $87.0 million from $64.9 million for the third quarter of fiscal 2007. Net revenue from corporate-owned stores was $77.6 million, an increase of 31% from $59.1 million for the third quarter of fiscal 2007, with comparable store sales increasing 4% on a constant-dollar basis compared to the third quarter of fiscal 2007.

Income from operations increased 7% to $13.1 million, or 15.0% of net revenue, compared to $12.2 million, or 18.9% of net revenue, in the third quarter of fiscal 2007.

Diluted earnings per share from continuing operations were $0.13 on net income of $8.8 million, compared to diluted earnings per share of $0.12 on net income of $7.9 million in the third quarter of fiscal 2007.

Diluted earnings per share in the third quarter of fiscal 2007 exclude a $0.01 loss per share associated with the discontinued operations resulting from the Company's closure of its four stores in Japan.

For the thirty-nine weeks ended November 2, 2008:

Net revenue increased 50% to $249.6 million compared to $165.9 million for the same period in fiscal 2007. Net revenue from corporate-owned stores increased 51% to $225.2 million compared to $148.8 million for the same period in fiscal 2007, with comparable store sales growth of 10% on a constant-dollar basis.

Income from operations increased 39% to $40.5 million, or 16.2% of net revenue, compared to $29.2 million, or 17.6% of net revenue, in the first nine months of fiscal 2007.

Diluted earnings per share from continuing operations were $0.42 on net income of $29.6 million, compared to diluted earnings per share of $0.24 on net income of $16.8 million for the same period in fiscal 2007. Diluted earnings per share were $0.40 for the first thirty-nine weeks of fiscal 2008 and $0.23 for the same period in fiscal 2007, after deducting the associated loss for discontinued operations in Japan.

Christine Day, lululemon's CEO stated: “While we are pleased that we met our earnings expectations in the third quarter, we recognize that we are operating in an increasingly difficult environment. During this current downturn we will operate our business prudently through careful inventory management, expense controls and conservative capital investments. We believe that our business model will prove resilient throughout this challenging time and we will emerge from these conditions with strong growth potential for our brand.”

Guidance
Based on the trends in the macro environment and the weaker Canadian dollar, which are both negatively impacting our business results, we are revising our outlook for the balance of the year. For fourth quarter 2008, we now anticipate reported net revenue to be in the range of $90 million to $95 million.

This is based on a comparable store sales decline in the low double digits on a constant-dollar basis and six new store openings during the quarter. We now expect diluted earnings per share for the fourth quarter of 2008 to be in the range of $0.15 to $0.17; incorporating a 34% tax rate and 70.7 million diluted weighted average shares outstanding.


Must ReadView All

OECD urges UK for close EU ties to meet Brexit challenges

Textiles | On 24th Oct 2017

OECD urges UK for close EU ties to meet Brexit challenges

The British economy has weakened following the decision to leave the...

Accord, Alliance to leave Bangladesh in 2018

Apparel/Garments | On 24th Oct 2017

Accord, Alliance to leave Bangladesh in 2018

Accord and Alliance, the two western buyers' platforms working to...

Gujarat govt announces bonus for cotton farmers

Textiles | On 24th Oct 2017

Gujarat govt announces bonus for cotton farmers

The Gujarat government has announced a bonus of Rs 100 per 20 kg for...

Interviews View All

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Marcel Alberts
Eurofibers

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

Larry L Kinn
Suominen Corporation

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

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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

October 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
76.1%
No
12.7%
Skip
11.3%

Total Votes: 71

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
62.0%
No
28.2%
Skip
9.9%

Total Votes: 71

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
85.9%
No
9.9%
Skip
4.2%

Total Votes: 71

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
76.1%
No
11.3%
Skip
12.7%

Total Votes: 71


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