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current news

Lululemon Net Income Surges 76%

(Filed Under Financial and General Interest News). Activewear and yoga apparel retailer Lululemon Athletica, Inc. reported a 76.1 percent rise in net income for the second quarter ended July 31, while net revenue rose 39.5 percent.

Income attributed to the company came to $38.4 million, or 26 cents a share, up substantially from $21.8 million, or 15 cents a share, in the year-ago period. Revenue hit $212.3 million, up from $152.2 million.

"Our business remained very healthy through the second quarter, as strong sales productivity and operating margins grew pre-tax income by more than 60 percent," stated Lululemon C.E.O. Christine Day.

The company updated its third-quarter outlook to expect earnings per share to be between 22 and 24 cents and revenue to reach between $225 and $230 million.

Lululemon Athletica, Inc. is based in Vancouver and currently operates 147 stores in the U.S. and Canada.

more Financial and General Interest News >>

Published 09-12-2011 by Katherine Rautenberg

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