Lululemon reports jump in sales
09/06/2016
Total comparable sales, which include comparable store sales and direct to consumer, increased by 6% and gross profit was up 16% to $239.1 million. Income from operations was down 15% on the first quarter of 2015 to $57.6 million.
“We are pleased with our first quarter performance, delivering strong sales results and gross margin that exceeded expectations,” said Lululemon CEO Laurent Potdevin.
For the full 2016 fiscal year Lululemon now expects net revenue of between $2,305 billion and 2.345 billion. Prior to the release of Q1 figures, the company was expecting revenue to be in the range of $2.285 billion to $2.335 billion.
Share this story:
