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Home / Knowledge / News / Apparel/Garments / Lululemon Athletica Q2 FY17 revenue rises 13%
Lululemon Athletica Q2 FY17 revenue rises 13%
05
Sep '17
Courtesy: Lululemon
Courtesy: Lululemon
Canadian athletic apparel retailer Lululemon Athletica has reported an increase of 13 per cent in the net revenue to US $581.1 million in the second quarter of fiscal 2017. The company's total comparable sales increased 7 per cent while there was a rise of 2 per cent in its comparable store sales. Its direct to consumer net revenue increased 29 per cent.

For the reported period, the company's gross profit was $297.4 million, an increase of 17 per cent compared to the second quarter of fiscal 2016. Adjusted gross profit was $299.7 million, an increase of 18 per cent. The gross margin was 51.2 per cent and adjusted gross margin was 51.6 per cent.

For the second quarter of fiscal 2017, income from operations was $68.7 million, a decrease of 7 per cent compared to the second quarter of fiscal 2016. Adjusted income from operations increased by $0.2 million to $74.1 million. The diluted earnings per share were $0.36 compared to $0.39 in the second quarter of fiscal 2016. Adjusted diluted earnings per share were $0.39 compared to $0.38 for the second quarter of fiscal 2016.

The company ended the second quarter of fiscal 2017 with $721.2 million in cash and cash equivalents compared to $535.3 million at the end of the second quarter of fiscal 2016. Inventories at the end of the second quarter of fiscal 2017 increased by 14 per cent to $316.4 million compared to $277.3 million at the end of the second quarter of fiscal 2016. The company ended the quarter with 421 stores.

"Our performance reflects the growing global consumer response to Lululemon's unique position as the leading brand that defines an active, mindful lifestyle. Through continuing to deliver category-defining product innovation, we are creating experiences that our guests, both existing and new, desire. This strong brand momentum reinforces my confidence in our long-term strategy," said Laurent Potdevin, CEO.

"The acceleration that we have seen across the business in the second quarter enables us to take another positive step on our path towards achieving $4 billion in revenue by 2020. Finally, I would also like to express my gratitude for the constant energy and determination of our teams and ambassadors, who powerfully bring our brand to life," added Potdevin.

For the third quarter of fiscal 2017, the company expects net revenue to be in the range of $605-$615 million while for the full fiscal 2017, the expectation is in the range of $2.545-$2.595 billion. Diluted earnings per share are expected to be in the range of $0.33-$0.35 for the third quarter and for the full year, it is expected to be in the range of $2.04-$2.11. (RR)

Fibre2Fashion News Desk – India


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