Boston, MA 09/12/2014 (wallstreetpr) – Yesterday Lululemon Athletica inc. (NASDAQ:LULU) announced its Q2 2014 financial resultsfor the quarter that ended on August 3, 2014. The company reported an increase of net revenue from $344.5 million in Q2 2013 to $390.7 million in Q2 2014, a jump of 13%.
Performance on Track of Planned Road Map
In context with the good performance of the Lululemon Athletica inc. (NASDAQ:LULU) in the second quarter, the CEO, Laurent Potdevin said that this was on track of the calculated and planned road map of Lululemon Athletica’s success. The positive fiscal results have been attributed to international expansion of the company along with betterment in terms of brand and products.
The Financial Results at a Glance
The gross profit for second quarter of the current fiscal increased 6% and summed up at $197.3 million. However, the net revenue gross profit went down to 50.5% from 54.0% for same time period in the previous year.
Operating income also decreased 14% and totalled at $67.9 million. As far as the diluted EPS (earnings per share) were concerned, these were $0.33 against the net income of $48.7 million, in comparison to $0.39 against $56.5 million net income in Q2 2013.
The net revenue of company for first two quarters in 2014 jumped up 12% to $775.3 million in contrast with $690.3 million for the first six months in previous fiscal.
Lululemon Athletica inc.’s Updated Outlook
The guidance for the Q3 2014 and the entire year has also been updated by the Lululemon Athletica inc. (NASDAQ:LULU). The net revenue for Q3 2014 is speculated to be somewhere between $420 million and 425 million, given that the total comparable sales of the company will increase in terms of lower single digits only. Diluted EPS will remain within $0.36 to $0.38 range for the third quarter.
As far as the full-year guidance is concerned, Lululemon Athletica expects net revenue to sum up within $1.780 billion to $1.800 billion range. Diluted EPS is expected to be anywhere from $1.51 to $1.56 for the complete year.