Lululemon says it is set to end 2011 as a stronger brand
02/12/2011
Specialist yoga apparel brand lululemon athletica has announced financial results for the third quarter, ended October 30, 2011.
Net revenue for the quarter increased 31% to $230.2 million from $175.8 million in the third quarter of fiscal 2010. Comparable stores sales for the third quarter increased by 16% and direct-to-consumer revenue (mostly online sales of the company's clothing) increased 71% to $23.9 million, representing 10.4% of total company revenues. Profits for the quarter also increased by 33% to $128.5 million.
Net revenue for the first three quarters increased by 35% to $629.3 million from $466.3 million in the same period of fiscal 2010.
Christine Day, lululemon's chief executive, commented: "We are proud to have produced another very healthy quarter of financial results. We are set to finish 2011 with a stronger brand, a stronger organisation and we remain focused on our strategic growth opportunities."
The Vancouver-based company now has 165 stores in North America and Australia.
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