(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.
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