Lululemon Athletica, a Canadian athletic apparel retailer, has unveiled its fourth quarter and full-year results. The company reported that its net revenue for the reporting quarter ending January 31, 2016 rose by 17 per cent to $ 704.3 million from $ 602.5 million in the corresponding quarter last year. Net revenue for the fiscal year 2015 too zoomed by 15 per cent to $ 2.1 billion from $ 1.8 billion in fiscal 2014.
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Total comparable sales on a constant dollar basis surged 11 per cent for the fourth quarter. Comparable store sales increased by 5 per cent and direct to consumer net revenue rose 33 per cent. Gross profit for the reporting quarter increased by 14 per cent to $ 354.5 million.
For full year 2015, total comparable sales increased by 10 per cent and comparable store sales climbed 4 per cent with 30 per cent rise in direct to consumer net revenue. Gross profit for the FY increased by 9 per cent to $ 997.2 million from $ 914.2 million last year, according to the company release.
Commenting on the results, Laurent Potdevin, CEO, Lululemon said, “I’m very pleased with our strong finish to the year with positive momentum across all channels. Our Q4 results are a reflection of our ability to deliver a truly unique experience to our guests, led, as always, by our outstanding store educators. In 2015, we made bold moves across the organization, elevating design and innovation and developing our infrastructure to position us for the future. As I look forward to 2016 and beyond, I am excited and confident that we have the right team in place to execute on our long term strategies.
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Lululemon is optimistic about 2016 as well and expects net revenue to be in the range of $ 2.285 billion to $ 2.335 billion.
