Lululemon Athletica Q1 2017 net revenue rises 5%

02 Jun '17
2 min read

For the first quarter of 2017, there was a 5 per cent rise in the net revenue of Lululemon Athletica, compared to the first quarter of fiscal 2016. On a constant dollar basis, net revenue increased 5 per cent. Further, the company's gross profit totaled $256.9 million, an increase of 7 per cent compared to the first quarter of fiscal 2016.

Lululemon Athletica's gross profit for the reported quarter was $256.9 million, an increase of 7 per cent compared to the first quarter of fiscal 2016. There was a 10 per cent increase in the adjusted gross profit with $262.3 million. However, there was a 21 per cent decline in the income from operations which amounted to $45.4 million. The operating margin was 8.7 per cent, a decrease of 290 basis points compared to the first quarter of fiscal 2016. Its comparable store sales also decreased 2 per cent.

The Company ended the first quarter of fiscal 2017 with $698.3 million in cash and cash equivalents compared to $550.0 million at the end of the first quarter of fiscal 2016. Inventories at the end of the first quarter of fiscal 2017 increased by 6 per cent to $303.9 million compared to $286.2 million at the end of the first quarter of fiscal 2016.

"I am excited to see the positive trends that materialised late in Q1 continuing into Q2. Our current outlook for the remainder of 2017 is strong, and I'm energised by the growth strategies taking shape. I am also confident in our plans to restructure ivivva and believe they are the best means to optimise this part of the business," said Laurent Potdevin, CEO.

"From our cadence of product innovation, to our enhanced digital experience, and first-ever global brand campaign, we have never felt more deeply connected to our guest or better positioned to expand our collective. We remain laser focused on owning our position as the global brand defining an active, mindful lifestyle," Potdevin added. (RR)

Fibre2Fashion News Desk – India

Leave your Comments

Esteemed Clients

TÜYAP IHTISAS FUARLARI A.S.
Tradewind International Servicing
Thermore (Far East) Ltd.
The LYCRA Company Singapore  Pte. Ltd
Thai Trade Center
Thai Acrylic Fibre Company Limited
TEXVALLEY MARKET LIMITED
TESTEX AG, Swiss Textile Testing Institute
Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)
Taiwan Textile Federation (TTF)
SUZHOU TUE HI-TECH NONWOVEN MACHINERY CO.,LTD
Stahl Holdings B.V.,

Recommended

Advanced Search