Lululemon Reports Profitable Q2
Lululemon Athletica, yoga and sportswear brand, announced today its second quarter fiscal results. Ending July 29th, 2012, Lululemon reached a total of $282.6 million in net revenue in its Q2 reporting a 33 per cent increase in comparison to Q2 2011 which totalled $212.3 million.
Other increases Lululemon saw were store sales in Q2 which grew by 15 per cent, direct to consumer revenue which rose 91 per cent to $35.4 million, and an increase in gross profit of 28 per cent to $155.8 million.
Lululemon also reported its diluted earnings per share from both fiscal quarters of 2012 at $0.71 from a net income of $103.9 million. This is an improvement in comparison to the same period in 2011 in which Lululemon’s diluted earnings were $0.49 a share with a net income of $71.8 million.
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"We continue to strive for the right balance between strong growth and maintaining our market leader focus on execution, innovation and investments in infrastructure and while doing so delivered another strong quarter,” says Christine Day, Lululemon’s CEO.
Lululemon currently has 189 stores in North America and Australia and is a leader in the women’s sportswear industry. Highlighted in Business Review Canada’s March issue, Lululemon has seen overall success through its branding and community building techniques. Promoting that the brand is not just a company but more of a lifestyle, the company has built strong ties to local communities and its customers.