This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Lululemon Athletica Inc. Announces Second Quarter Fiscal 2013 Results

lululemon athletica inc. (NASDAQ:LULU) today announced financial results for the second quarter ended August 4, 2013.

For the thirteen weeks ended August 4, 2013:

  • Net revenue for the quarter increased 22% to $344.5 million from $282.6 million in the second quarter of fiscal 2012.
  • Comparable stores sales for the second quarter increased by 8% on a constant dollar basis.
  • Direct to consumer revenue increased 39% to $49.4 million, or 14.3% of total Company revenues, in the second quarter of fiscal 2013, an increase from 12.5% of total Company revenues in the second quarter of fiscal 2012.
  • Gross profit for the quarter increased 19% to $186.0 million, and as a percentage of net revenue gross profit decreased to 54.0% for the quarter from 55.1% in the second quarter of fiscal 2012.
  • Income from operations for the quarter increased 12.5% to $79.0 million, and as a percentage of net revenue was 22.9% compared to 24.8% of net revenue in the second quarter of fiscal 2012.
  • The tax rate for the quarter was 29.7% compared to 19.1% a year ago. The effective tax rate for the second quarter of fiscal 2012 reflected an adjustment of $7.2 million, reversing taxes provided for in the fourth quarter of fiscal 2011 through the first quarter of fiscal 2012.
  • Diluted earnings per share for the quarter were $0.39 on net income of $56.5 million, compared to diluted earnings per share of $0.39 on net income of $57.2 million in the second quarter of fiscal 2012.

For the twenty-six weeks ended August 4, 2013:

  • Net revenue for the first two quarters of fiscal 2013 increased 22% to $690.3 million from $568.3 million in the same period of fiscal 2012.
  • Comparable stores sales for the first two quarters of fiscal 2013 increased by 8% on a constant dollar basis.
  • Direct to consumer revenue increased 40% to $103.4 million, or 15.0% of total company revenues, in the first two quarters of fiscal 2013, an increase from 13.0% of total company revenues in the first two quarters of fiscal 2012.
  • Gross profit for the first two quarters of fiscal 2013 increased 14% to $356.7 million, and as a percentage of net revenue gross profit was 51.7% for the first two quarters as compared to 55.1% in the same period of fiscal 2012.
  • Income from operations for the first two quarters of fiscal 2013 increased 1% to $144.9 million, and as a percentage of net revenue was 21.0% as compared to 25.2% of net revenue in the same period of fiscal 2012.
  • The effective tax rate for the first two quarters of fiscal 2013 was 29.7% compared to 28.0% a year ago.
  • Diluted earnings per share for the first two quarters of fiscal 2013 were $0.71 on net income of $103.7 million, compared to diluted earnings per share of $0.71 on net income of $103.9 million the same period of fiscal 2012.

The Company ended the second quarter of fiscal 2013 with $610.3 million in cash and cash equivalents compared to $444.3 million at the end of the second quarter of fiscal 2012. Inventory at the end of the second quarter of fiscal 2013 totaled $163.0 million compared to $125.4 million at the end of the second quarter of fiscal 2012. The Company ended the quarter with 226 stores in North America and Australia.

1 of 5

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,079.57 -42.44 -0.25%
S&P 500 1,996.74 -3.38 -0.17%
NASDAQ 4,557.6950 -11.9260 -0.26%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs