lululemon introduces fiscal 2008 guidance
Apr '08
For the quarter ended February 3, 2008:
• Net revenue increased 101% to $105.1 million from $52.2 million for the fourth quarter of fiscal 2006. Net revenue from corporate-owned stores was $92.5 million, an increase of 117% from $42.6 million for the fourth quarter of fiscal 2006, with comparable-store sales increasing 41%, or 24% on a constant dollar basis.
• Gross profit as a percentage of net revenue increased 270 basis points to 54.1% of net revenue from 51.4% of net revenue in the fourth quarter of fiscal 2006.
• Income from operations was $21.7 million, or 20.6% of revenues, compared to $2.2 million, or 4.2% of revenues, in the fourth quarter of fiscal 2006.
• Diluted earnings per share was $0.21 on net income of $14.6 million, compared to diluted earnings per share of $0.01 on net income of $0.9 million in the fourth quarter of fiscal 2006. Excluding a one-time legal settlement expense, diluted earnings per share for the fourth quarter of fiscal 2006 were $0.05.
For the fiscal year ended February 3, 2008:
• Net revenue increased 84% to $274.7 million from $148.9 million for the same period in fiscal 2006. Net revenue from corporate-owned stores was $243.6 million, an increase of 102% from $120.7 million for the same period in fiscal 2006, with comparable-store sales increasing 34%, or 24% on a constant dollar basis.
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