Canadian yoga apparel retailer lululemon yoga pants Athletica Inc released its second quarter results on Thursday reported its earnings report showed a decline of 1.3%, mainly due to the increase in the rate of increase in input costs and a significant increase in revenue offset.
The company also lowered its full-year earnings and revenue expectations. Affected by this, the disk before its stock price fell more than 11 percent on Thursday.
As of August 4th quarter, lululemon's net profit from $57.2 million for the same period last year fell to $56.5 million, but due to the reduced number of shares outstanding, earnings per share was unchanged at 39 cents, still higher than the accepted FactSet survey the average analyst estimate of 35 cents.
Revenue rose 22 percent, from $283 million for the same period last year to $345 million, slightly higher than analyst expectations of $344 million. Same-store sales increased 8%.
Gross profit margin fell to 54% from 55.1% a year earlier, input costs increased by 25 %. The company's tax rate increased to 30% from 19% a year earlier.
As of end of the quarter, the company's total inventory of $125 million from a year earlier to $163 million over the same period.
Lululemon expects third-quarter earnings per share of 39-41 cents on revenue of 370 million -3.75 million. Analysts on average expected the company's earnings for the quarter of 45 cents per share, on revenue of $390 million.
Lululemon the 2013 fiscal year earnings per share are expected to range from $1.96-2.01 to $1.94-1.97 previously downward, and revenue is expected to -16.6 one hundred million U.S. dollars from 1.65 billion to 1.63 billion the previous downward -16.4 billion.
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