Home / Knowledge / News / Apparel/Garments / lululemon Q1 net revenue increases 6%
lululemon Q1 net revenue increases 6%
11
Jun '09
Christine Day (CEO)
Christine Day (CEO)
lululemon athletica inc announced financial results for the thirteen weeks ended May 3, 2009.

For the thirteen weeks ended May 3, 2009:
• Net revenue increased 6% to $81.7 million from $77.0 million for the first quarter of fiscal 2008. Net revenue from corporate-owned stores was $72.9 million, an increase of 5% from $69.4 million for the first quarter of fiscal 2008, with comparable-store sales decline of 8% on a constant-dollar basis compared to the first quarter of 2008.
• Gross profit as a percentage of net revenue decreased to 42.8% from 53.4% of net revenue in the first quarter of fiscal 2008.
• Income from operations was $9.9 million, or 12.1% of net revenue, compared to $11.9 million, or 15.5% of net revenue, in the first quarter of fiscal 2008.
• Diluted earnings per share were $0.09 on net income of $6.5 million, compared to diluted earnings per share of $0.12 on net income of $8.5 million in the first quarter of fiscal 2008.

The Company ended the quarter with $59.3 million in cash and cash equivalents as compared to $56.8 million at the end of fiscal 2008. Inventory at the end of the quarter totaled $44.6 million as compared to $52.1 million at the end of fiscal 2008.

Christine Day, lululemon's CEO stated: "We continue to manage the long-term brand expansion while delivering against our short-term commitments. Given the troubled outlook for the economy in early 2009 when we began the quarter, we are pleased with the current pace of our business and our ability to continue to bring our customers through our doors to make full price purchases. We remain committed to the quality of our products and our ongoing innovation."

Updated Guidance
For the second quarter of fiscal 2009 we expect comparable-store sales decline in the middle-single digits on a constant-dollar basis compared to the second quarter of 2008. We anticipate reported net revenue to be in the range of $85 million to $90 million for the quarter, and earnings per share in the range of $0.08 to $0.09 for the quarter. This assumes a tax rate of 34% and 70.5 million diluted weighted average shares outstanding.

lululemon athletica inc


Must ReadView All

Courtesy: Raymond

Apparel/Garments | On 28th Jun 2017

Raymond plans to invest Rs 1,400 crore in Amravati plant

Raymond, Indian textiles and apparel major, has decided to invest Rs...

Textiles | On 28th Jun 2017

GST and textiles industry: Analysis and opinion

The Goods and Services Tax (GST) is at long last all set to be rolled ...

Textiles | On 28th Jun 2017

India probing dumping of polyester yarn by China

Indian government is probing anti-dumping allegations against a...

Interviews View All

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

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

news category


Related Categories:
July 2017

July 2017

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

SUBSCRIBE


Browse Our Archives

GO


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