Lululemon announce second fiscal quarter results
Canadian sports and activewear brand Lululemon Athletica Inc. - which is based in British Columbia today reported their financial results for the second quarter, which ended on August 3rd.
Net revenue for the brand increased by 13 per cent – from $344.5 million to $390.7 million in the second fiscal quarter, while total comparable sales – which includes both direct to consumer sales and comparable store sales, remained flat and steady for the entire period, on a constant dollar basis. Direct to consumer revenue grew 30 per cent, and comparable store sales decreased by 5 per cent, again on a constant dollar basis.
Operations income fell by 14 per cent to $67.9 million, with net revenue lower than in the second quarter of 2013 – 17.4 per cent as opposed to 22.9 per cent. Effective tax rate was 30.1 per cent in comparison was 29.7 per cent in the previous year.
Per share, diluted earnings were $0.33 with a net income of $48.7 million, a decrease from last year where diluted earnings per share were $0.39 on a net income of $56.5 million.