Press release
lululemon athletica inc. Announces Fourth Quarter and Full Year Fiscal 2024 Results
Fourth quarter revenue increased 13% to $3.6 billion. Diluted EPS of $6.14 Full year revenue increased 10% to $10.6 billion. Diluted EPS of $14.64 VANCOUVER,
About this update from Lululemon Athletica Inc.
[{"type":"text","content":"\nFourth quarter revenue increased 13% to $3.6 billion. Diluted EPS of $6.14\nFull year revenue increased 10% to $10.6 billion. Diluted EPS of $14.64\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, 2025.\n\nCalvin McDonald, Chief Executive Officer, stated: \"Our fourth quarter results exceeded our expectations as we continued to introduce more newness and innovation into our product assortment. Our performance demonstrates the ongoing strength and resilience of lululemon and is a testament to the passion and dedication of our teams around the world. As we begin 2025, we remain focused on executing on our Power of Three ×2 growth plan and delivering an exciting pipeline of innovation and brand activations for our guests and communities.\"\n\nThe adjusted non-GAAP financial measures below exclude asset impairment and other charges recognized in relation to lululemon Studio during 2023, and the related income tax effects of these items.\n\nFor the fourth quarter of 2024, compared to the fourth quarter of 2023:\n\n\nNet revenue increased 13% to $3.6 billion, or 14% on a constant dollar basis.\n\n\nAmericas net revenue increased 7%, or 8% on a constant dollar basis.\n\n\nInternational net revenue increased 38%, or 40% on a constant dollar basis.\n\n\n\n\nExcluding net revenue from the 53rd week of 2024, net revenue increased 8%.\n\n\nComparable sales, which excludes net revenue from the 53rd week of 2024, increased 3%, or 4% on a constant dollar basis.\n\n\nAmericas comparable sales were flat compared to the fourth quarter of 2023.\n\n\nInternational comparable sales increased 20%, or 22% on a constant dollar basis.\n\n\n\n\nGross profit increased 15% to $2.2 billion and gross margin increased 100 basis points to 60.4%.\n\n\nIncome from operations increased 14% to $1.0 billion and operating margin increased 40 basis points to 28.9%.\n\n\nThe effective income tax rate for the fourth quarter of 2024 was 29.2% compared to 28.1% for the fourth quarter of 2023.\n\n\nDiluted earnings per share were $6.14 compared to $5.29 in the fourth quarter of 2023.\n\n\nThe Company repurchased 0.9 million of its shares for a cost of $332.2 million.\n\n\nThe Company opened 18 net new company-operated stores during the qua...