Net revenue rises 14% in Q3 FY15 at Lululemon

The company reported diluted EPS of $0.38 in the third quarter of fiscal 2015 as compared to $0.42 in the third quarter of fiscal 2014.

The gross profit reported for the third quarter of fiscal 2015 was $224.8 million, a rise of 7 per cent as compared to the third quarter of fiscal 2014.

Comparable store sales for the third quarter increased by 6 per cent on a constant dollar basis and direct to consumer revenue increased by 21 per cent on a constant dollar basis.

The company ended the third quarter of fiscal 2015 with $403.4 million in cash and cash equivalents as compared to $633.6 million at the end of the third quarter of fiscal 2014.

Commenting on the results, Laurent Potdevin, CEO of Lululemon said, “We had a solid quarter in line with our expectations, underscored by the combination of our product, guest and community initiatives along with tremendous guest reception to major store openings around the world.”

“We've implemented critical organisational changes this quarter, and now have in place a complete, world-class management team that is aligned with our strategic global priorities focused on design and dedicated to creating long-term value,” he added.

For the fourth quarter of fiscal 2015, the company expects net revenue to be in the range of $670 million to $685 million based on total comparable sales in the mid-single digits on a constant dollar basis.

For the full fiscal 2015, the company expects net revenue to be in the range of $2.025 billion to $2.040 billion based on total comparable sales in the high-single digits on a constant dollar basis. (MCJ)

ALCHEMPro News Desk – India