Press release
lululemon athletica inc. Announces Fourth Quarter and Full Year Fiscal 2019 Results
Fourth quarter revenue up 20% to $1.4 billion Comparable sales increase 20% Diluted EPS of $2.28 for the fourth quarter Full year revenue of $4.0 billion
About this update from Lululemon Athletica Inc.
[{"type":"text","content":"\nFourth quarter revenue up 20% to $1.4 billion\nComparable sales increase 20%\nDiluted EPS of $2.28 for the fourth quarter\n\n\nFull year revenue of $4.0 billion\n\n VANCOUVER, British Columbia--(BUSINESS WIRE)--\nlululemon athletica inc. (NASDAQ:LULU) today announced financial results for the fourth quarter and fiscal year ended February 2, 2020.\n\n\nThe summary below provides both GAAP and adjusted non-GAAP financial measures. The adjusted financial measures exclude the amounts recognized in connection with U.S. tax reform and taxes on the repatriation of foreign earnings during fiscal 2018.\n\n\nFor the fourth quarter ended February 2, 2020:\n\n\n\nNet revenue was $1.4 billion, an increase of 20% compared to the fourth quarter of fiscal 2018.\n\n\nTotal comparable sales increased 20%.\n\n\nComparable store sales increased 9%.\n\n\nDirect to consumer net revenue increased 41%.\n\n\n\n\nGross profit was $810.8 million, an increase of 21% compared to the fourth quarter of fiscal 2018.\n\n\nGross margin was 58.0%, an increase of 70 basis points compared to the fourth quarter of fiscal 2018.\n\n\nIncome from operations was $416.5 million, an increase of 26% compared to the fourth quarter of fiscal 2018.\n\n\nOperating margin was 29.8%, an increase of 140 basis points compared to the fourth quarter of fiscal 2018.\n\n\nIncome tax expense was $120.6 million compared to $115.8 million in the fourth quarter of fiscal 2018 and the effective tax rate was 28.8% compared to 34.6% for the fourth quarter of fiscal 2018. The adjusted effective tax rate for the fourth quarter of fiscal 2018 was 26.9%.\n\n\nDiluted earnings per share were $2.28 compared to $1.65 in the fourth quarter of fiscal 2018. Adjusted diluted earnings per share for the fourth quarter of fiscal 2018 were $1.85.\n\n\nThe Company repurchased 1.6 thousand shares of its own common stock at an average cost of $194.10 per share in the fourth quarter of fiscal 2019.\n\n\n\nFor the fiscal year ended February 2, 2020:\n\n\n\nNet revenue was $4.0 billion, an increase of 21% compared to fiscal 2018. On a constant dollar basis, net revenue increased 22%.\n\n\nTotal comparable sales increased 17%, or increased 18% on a constant dollar basis.\n\n\nComparable store sales increased 9%, or increased 10% on a constant dollar basis.\n\n\nDirect to consumer net revenue increased 35%.\n\n\...