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Lululemon athletica Q3 net revenue increased 23%

Christian Fernsby ▼ | December 12, 2019
Lululemon athletica announced financial results for the third quarter of fiscal 2019.
Lululemon athletica
Lululemon athletica   Net revenue was $916.1 million
Net revenue was $916.1 million, an increase of 23% compared to the third quarter of fiscal 2018. On a constant dollar basis, net revenue increased 23%.

Topics: Lululemon athletica

Total comparable sales increased 16%, or increased 17% on a constant dollar basis.

Comparable store sales increased 10%, or increased 11% on a constant dollar basis.

Direct to consumer net revenue increased 29%, or increased 30% on a constant dollar basis.

Direct to consumer net revenue represented 26.9% of total net revenue compared to 25.3% for the third quarter of fiscal 2018.

Gross profit was $505.0 million, an increase of 24% compared to the third quarter of fiscal 2018.

Gross margin was 55.1%, an increase of 70 basis points compared to the third quarter of fiscal 2018.

Income from operations was $175.8 million, an increase of 29% compared to the third quarter of fiscal 2018.

Operating margin was 19.2%, an increase of 100 basis points compared to the third quarter of fiscal 2018.

Income tax expense was $51.8 million compared to $43.5 million in the third quarter of fiscal 2018 and the effective tax rate was 29.1% compared to 31.6%. The adjusted effective tax rate for the third quarter of fiscal 2018 was 27.8%.

Diluted earnings per share were $0.96 compared to $0.71 in the third quarter of fiscal 2018. Adjusted diluted earnings per share for the third quarter of fiscal 2018 were $0.75.

The Company repurchased 44.5 thousand shares of its own common stock at an average cost of $179.71 per share.


 

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