Lululemon reports strong Q2 results
For the three months ended July 31, 2007, net revenue from corporate-owned stores increased 98% to $53.1 million compared with $26.8 million for the second quarter of fiscal 2006, with comparable store sales growth of 30%. For the six months ended July 31, 2007, net revenue increased by 70% to $103.5 million compared with $60.7 million for the same period in fiscal 2006. Net revenue from corporate-owned stores increased 86% to $91.1 million compared with $49 million for the same period in fiscal 2006, with comparable store sales growth of 25%. Robert Meers, CEO, said: "We are pleased to report strong results in our initial quarter as a public company. Our team has built on the success of our unique winning formula - vertically retailing technical apparel for men and women - in a rapidly growing global market for healthy and active living. All of our managers, educators, brand ambassadors and head office employees continue to pave the way for the company's success."