(Filed Under Financial and General Interest News). Canadian activewear company Lululemon Athletica, Inc. cited a 14 percent growth in net revenue during the recent second quarter, to $97.7 million from $85.5 million during last year's quarter. Net revenue from corporate-owned stores was $85.1 million, a 9 percent increase, while comparable-store sales declined 2 percent. But despite the revenue growth, the company still experienced a 17.1 percent drop in net income; from $11.1 million, or 16 cents per diluted share last year, to $9.2 million, or 13 cents, this year. However, the profit drop still beat out analysts estimates.
The company expects comparable-store sales to be relatively flat during the third quarter, and anticipates net revenue in the range of $95 million to $100 milion, with diluted earnings per share in the range of 11 to 13 cents.
Lululemon Athletica, inc. is a designer and retailer of yoga-inspired men's and women's athletic apparel marketed under the Lululemon Athletica brand name. The company currently operates over 100 stores primarily in the United States and Canada.
For further information, contact Joseph Teklits or Jean Fontana: (203) 682-8200.
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