- Prachi Singh
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Lululemon Athletica Inc., for the fourth quarter ended February 2, 2020 reported net revenue of 1.4 billion dollars, an increase of 20 percent, with total comparable sales also increasing by 20 percent. The company said in a statement that comparable store sales increased 9 percent, while direct to consumer net revenue increased 41 percent. For the fiscal year net revenue was 4 billion, an increase of 21 percent, while on a constant dollar basis, net revenue increased 22 percent. Total comparable sales increased 17 percent for the year with 18 percent rise on a constant dollar basis. The company added that comparable store sales increased 9 percent or 10 percent on a constant dollar basis and direct to consumer net revenue increased 35 percent.
Commenting on the trading performance, Calvin McDonald, the company’s Chief Executive Officer, said: “2019 was a strong year for Lululemon. We are now navigating an extraordinary environment, which is currently impacting our business. The strength of our brand and strong financial position will help us manage through the day-to-day, while continuing to effectively plan for and invest in our future.”
Gross profit for the quarter was 810.8 million dollars, an increase of 21 percent, while gross margin was 58 percent, an increase of 70 basis points compared to the fourth quarter of fiscal 2018. The company added that diluted earnings per share were 2.28 dollars compared to 1.65 dollars in the fourth quarter of fiscal 2018, while adjusted diluted earnings per share for the fourth quarter of fiscal 2018 were 1.85 dollars.
Gross profit for the year was 2.2 billion dollars, an increase of 22 percent, while gross margin was 55.9 percent, an increase of 70 basis points compared to fiscal 2018. Diluted earnings per share were 4.93 dollars compared to 3.61 dollars in fiscal 2018 and adjusted diluted earnings per share were 3.84 dollars.
Picture:Lululemon website
