lululemon athletic sales zoom 37% in FY'13

30 Mar '13

4 min read

The Company ended fiscal 2012 with $590.2 million in cash and cash equivalents compared to $409.4 million at the end of fiscal 2011. Inventory at the end of fiscal 2012 was $155.2 million compared to $104.1 million at the end of fiscal 2011. The Company ended the quarter with 211 stores in North America and Australia.

Christine Day, lululemon's CEO, stated: "The fundamentals of our business are strong, we delivered excellent results in 2012, and we plan to continue to earn the loyalty of our customers and shareholders every day going forward.

"As previously announced on March 18th, we pulled a selection of our black Luon pants from our stores. Delivering the top quality our guests expect is a critical factor in our differentiation in the market place.

“Our proprietary fabric, black Luon, is a very technical and sensitive product to manufacture. We have a long history with our manufacturers and as we have in the past, we are working closely with them to resolve the current issues.

"We have a team on site collaborating with them to identify the root cause. We have recently added strong leadership in Quality Control, our Liason Office and our commercialization and development teams, and expect these people and other investments to solidify our quality consistency and our delivery capabilities."

lululemon athletica

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