The company's gross profit was $322.0 million, an increase of 16 per cent compared to the third quarter of fiscal 2016. Adjusted gross profit was $323.1 million, an increase of 16 per cent. For the reported period, gross margin was 52 per cent and adjusted gross margin was recorded at 52.2 per cent.
The company ended the third quarter of fiscal 2017 with $650.1 million in cash and cash equivalents compared to $480.4 million at the end of the third quarter of fiscal 2016. Inventories at the end of the third quarter of fiscal 2017 increased 9 per cent to $396.9 million compared to $364.5 million at the end of the third quarter of fiscal 2016. It ended the quarter with 388 stores.
"Our teams powerfully delivered robust results across both store and digital channels this quarter, driving a further acceleration in our business. The strength of our third quarter earnings supports our unique position as the global brand defining an active, mindful lifestyle," said Laurent Potdevin, CEO, lululemon.
"As we start the holiday season, I'm energised by our momentum and we are increasing guidance to reflect this performance. I'm grateful for the enthusiasm I see every day across our collective as we remain on our path to delivering $4 billion in revenue in 2020," Potdevin added.
For the fourth quarter of fiscal 2017, the company expects net revenue to be in the range of $870 to $885 million based on a total comparable sales increase in the mid-single digits on a constant dollar basis. Diluted earnings per share are expected to be in the range of $1.18 to $1.21 for the quarter.
For the full fiscal 2017, we now expect net revenue to be in the range of $2.590 to $2.605 billion based on a total comparable sales increase in the mid-single digits on a constant dollar basis. Diluted earnings per share are expected to be in the range of $2.20 to $2.23 for the full year. (RR)
Fibre2Fashion News Desk – India
| On 22nd Apr 2021
The international NGO Environmental Coalition on Standards (ECOS) has ...
| On 22nd Apr 2021
Italian luxury goods company Salvatore Ferragamo has launched...
Canada-based Lululemon Athletica has announced 2 new initiatives that ...
We are staring at livelihood crisis for weavers
Wearables have very limited reach
Main challenges are breakdown of supply chain and shrinkage of manpower
Part of retail and hospitality conglomerate Landmark Group in Dubai,...
Headquartered in Surat, Gujarat, Orange O supplies digital
Hollywood Footwear’s story began in 1946 when Jummabhai Ajani started the...
UK-based Pireta has developed a unique free-form process to add durable,...
The Lenzing Group is an international company headquartered in Austria...
Bebop Sensors' smart fabrics allows for a new level of interaction between ...
Samatvam, a womenswear brand that blends age-old craftsmanship with modern ...
Sailesh Singhania Label
The Sailesh Singhania label was created to promote handwoven sarees and...
Designer <b>Suman Nathwani</b> talks about her journey of opening a...
Letter to Editor
Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.
Subscribe today and get the latest information on Textiles, Fashion, Apparel.
Download Free Report
Rising Opportunities in Technical Textiles Market: 2020-2026
Thank you for showing interest in our free report on 'Rising Opportunities in Technical Textiles Market: 2020-2026'
You will receive an email shortly with a link to download the report and in case if you don't receive our email, you can write back to email@example.com.