Thu, Aug 29, 8:18 PM (138 days ago)
For the second quarter of 2024, lululemon athletica inc. reported net revenue of $2,371,078, a 7% increase from $2,209,165 in Q2 2023, with comparable sales rising by 2%. The Americas segment saw a slight decline in comparable sales, while China Mainland and Rest of World segments experienced significant growth at 21% and 17%, respectively. Gross profit increased by 9% to $1,412,185, leading to a gross margin of 59.6%, up 80 basis points. Operating income rose 13% to $540,226, with an operating margin of 22.8%. Net income for the quarter was $392,922, reflecting a 15% increase year-over-year. The company’s cash and cash equivalents decreased to $1,610,112, down from $2,243,971 at the start of the year, largely due to increased stock repurchases totaling $888.9 million. Looking ahead, lululemon continues to face uncertainties from macroeconomic conditions, including inflation and foreign currency fluctuations, which could impact future performance. The company remains focused on expanding its product offerings and international presence while managing operational costs effectively.