Canada-based athletic apparel company Lululemon Athletica has reported a 33% increase in its net revenues for second quater of 2012 to $282.6m when compared to $212.3m in the same period a year ago.
Gross profit for the quarter increased 28% to $155.8m, and as a percentage of net revenue gross profit was 55.1% for the quarter as compared to 57.5% in the corresponding period last year.
Income from operations for the quarter increased 18% to $70.2m, and as a percentage of net revenue was 24.8% as compared to 28.0% of net revenue in the second quarter of fiscal 2011.
For 26 weeks ended 29 July 2012, the retailer posted an increase in total revenues of 42% to $568.3m from up from $399.1m for the first two quarters of fiscal 2011.
Gross profit for the first two quarters of fiscal 2012 increased 35% to $313.0 million, and as a percentage of net revenue gross profit stood at 55.1% for the first two quarters as compared to 58.1% in the same period of fiscal 2011.
Lululemon Athletica CEO Christine Day said “Looking ahead, we are excited about the opportunity to bring Lululemon to other communities around the globe and are continuing our steady foray into the international market.”
The athletic apparel company plans to open 35 corporate-owned stores plus two outlets in the remaining part of fiscal 2012, as a part of the retailer’s global expansion plans.
Lululemon having opened its first store in Vancouver in currently operates in Canada, the United States and Asia.