Press release
lululemon athletica inc. Announces Second Quarter Fiscal 2022 Results
Revenue increased 29% to $1.9 billion Comparable sales increased 23%, or increased 25% on a constant dollar basis Diluted EPS of $2.26, Adjusted EPS of $2.20
About this update from Lululemon Athletica Inc.
[{"type":"text","content":"\nRevenue increased 29% to $1.9 billion\n\nComparable sales increased 23%, or increased 25% on a constant dollar basis\n\nDiluted EPS of $2.26, Adjusted EPS of $2.20\n\n VANCOUVER, British Columbia--(BUSINESS WIRE)--\nlululemon athletica inc. (NASDAQ:LULU) today announced financial results for the second quarter of fiscal 2022.\n\nCalvin McDonald, Chief Executive Officer, stated: \"The momentum in our business continued in the second quarter, fueled by strong guest response to our product innovations, community activations, and omni experience. I would like to express my gratitude to our teams around the world for their continued dedication and enthusiasm for our brand, which enabled us to generate this elevated level of performance. As we look ahead, we're excited about our ability to successfully deliver against our Power of Three ×2 growth plan and create ongoing value for all our stakeholders.\"\n\nThe adjusted non-GAAP financial measures below exclude a gain on the sale of an administrative building in fiscal 2022 and certain costs incurred in connection with the acquisition of MIRROR in fiscal 2021, and the related tax effects.\n\nThe fiscal year ending January 29, 2023 is referred to as \"2022\", the fiscal year ended January 30, 2022 is referred to as \"2021\", and the fiscal year ended February 2, 2020 is referred to as \"2019\".\n\nFor the second quarter of 2022, compared to the second quarter of 2021:\n\n\nNet revenue increased 29% to $1.9 billion.\n\n\nNet revenue increased 28% in North America, and increased 35% internationally.\n\n\n\n\nTotal comparable sales increased 23%, or 25% on a constant dollar basis.\n\n\nComparable store sales increased 16%, or 18% on a constant dollar basis.\n\n\nDirect to consumer net revenue increased 30%, or 32% on a constant dollar basis.\n\n\n\n\nDirect to consumer net revenue represented 42% of total net revenue compared to 41% for the second quarter of 2021.\n\n\nGross profit increased 25% to $1.1 billion and gross margin decreased 160 basis points to 56.5%.\n\n\nIncome from operations increased 38% to $401.2 million. Adjusted income from operations increased 31%.\n\n\nOperating margin increased 140 basis points to 21.5%. Adjusted operating margin increased 30 basis points.\n\n\nIncome tax expense increased 35% to $111.8 million. The effective tax rate for the second quarter of 202...