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Lululemon Breaks 1q Record

(Filed Under Financial and General Interest News). Christine Day, chief executive officer of Lululemon Athletica, called the first quarter ended May 2, 2010 the company’s “best-ever first quarter,” driven by a 69.3 percent net revenue increase, to $138.3 million from $81.7 million. Net revenue from corporate-owned stores increased 58.5 percent, to $115.6 million from $72.9 million, while comparable store sales grew by 35 percent on a constant currency basis. According to Day, sales were strong in both the U.S. and Canada.

Gross profit for the quarter increased by 112.3 percent, to $74.4 million, and as a percentage of net revenue gross profit increased to 53.8 percent from 42.9 percent.

Lululemon Athletica, Inc. is an activewear and yoga apparel company based in Vancouver, Canada.

more Financial and General Interest News >>

Published 06-10-2010 by Amanda Torres Price

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