Home / Knowledge / News / Apparel/Garments / Lululemon Athletica revenue grows 25% to $724 mn in Q2

Lululemon Athletica revenue grows 25% to $724 mn in Q2

31
Aug '18
Courtesy: Lululemon Athletica
Courtesy: Lululemon Athletica
The net revenue of Lululemon Athletica has been recorded at $723.5 million, an increase of 25 per cent compared to the second quarter of fiscal 2018. On a constant dollar basis, net revenue increased 24 per cent. For the reported period, the company's total comparable sales climbed 20 per cent, or grew19 per cent on a constant dollar basis.

Gross profit was $396.2 million, an increase of 33 per cent compared to the second quarter of fiscal 2017. Gross profit went up 32 per cent compared to adjusted gross profit for the second quarter of fiscal 2017.

"We are very pleased with the consistent performance of our business. On behalf of the Board, I want to welcome Calvin McDonald to lululemon and thank our management team for delivering these incredible results," Glenn Murphy, chairman of the board, said.

Income from operations was $134.2 million, rise of 95 per cent compared to the second quarter of fiscal 2017. Income from operations soared 81 per cent compared to adjusted income from operations for the second quarter of fiscal 2017.

"We’re pleased to see the great results of Q2 across all parts of our business now extending into the current quarter. This ongoing success positions us to achieve our 2020 goals and beyond. Above all, we want to thank our educators and teams around the world who make this possible.," Stuart Haselden, chief operating officer, said.

The company ended the second quarter of fiscal 2018 with $777.8 million in cash and cash equivalents compared to $721.2 million at the end of the second quarter of fiscal 2017. Inventories at the end of the second quarter of fiscal 2018 increased 24 per cent to $392.7 million compared to $316.4 million at the end of the second quarter of fiscal 2017. It ended the quarter with 415 stores.

"I’m excited to work with the leadership team to build upon this considerable success. We have an incredible growth trajectory in front of us, given the strength of the brand and our people," Calvin McDonald, chief executive officer, informed.

For the third quarter of fiscal 2018, the company expects net revenue to be in the range of $720 million to $730 million based on a total comparable sales increase in the low teens on a constant dollar basis. Diluted earnings per share are likely to be in the range of $0.65 to $0.67 for the quarter. This guidance assumes 133.0 million diluted weighted-average shares outstanding and a 30 per cent tax rate. The guidance does not reflect potential future repurchases of the company's shares or any adjustments which may be recognized in connection with the US tax reform. (RR)

Fibre2Fashion News Desk – India


Must ReadView All

FDI to be hit if EU withdraws GSP benefit to Myanmar: DICA

Apparel/Garments | On 13th Nov 2018

FDI to be hit if EU withdraws GSP benefit to Myanmar: DICA

Foreign direct investments (FDI) in Myanmar will be hit if the...

British luxury brands eye US market post Brexit

Fashion | On 13th Nov 2018

British luxury brands eye US market post Brexit

British luxury brands are exploring the US market to forge new and...

UK parliament panel asks fast fashion firms for answers

Apparel/Garments | On 13th Nov 2018

UK parliament panel asks fast fashion firms for answers

The Environmental Audit Committee in the United Kingdom has called on ...

Interviews View All

Top executives, Machinery Company

Top executives
Machinery Company

We will promote latest technologies at ITMA Barcelona

Nuno Venda, ROQ

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Top executives, Textile industry

Top executives
Textile industry

It will take some time for the people to change their buying choices

Anupam Arya,

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Yash Jain & Sanjeev Jain,

Yash Jain & Sanjeev Jain

Divyam Export, launched about 30 years ago, exports to 15 countries,...

Mala Alwani,

Mala Alwani

<div>Delhi-based fast fashion womenswear brand, Besiva, aims to bridge the ...

Johan Berlin, InvestKonsult Sweden AB

Johan Berlin
InvestKonsult Sweden AB

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

Silke Brand-Kirsch, Schlegel und Partner

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Alfonso Marra, Klopman

Alfonso Marra
Klopman

It was in 1968 that Klopman introduced the concept of poly/cotton workwear ...

Mike Hoffman, Gildan Activewear SRL

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Hemant & Nandita, Hemant & Nandita

Hemant & Nandita
Hemant & Nandita

The designer duo of Hemant &amp; Nandita are known for being inspired by...

Sanjukta Dutta, Sanjukta's Studio

Sanjukta Dutta
Sanjukta's Studio

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

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

Leave your Comments


November 2018

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

news category


Related Categories:

Advanced Search