Revenue at yoga inspired athletic apparel marketer, Lululemon Athletica Inc climbed in double digits, year on year for the third quarter ended November 2, 2014.
For the third quarter of 2014, net sales rose 10 per cent to $419.4 million from $379.9 million in the third quarter of 2013.
Comparable store sales for the third quarter however, declined 3 per cent on a constant dollar basis, while direct to consumer revenue surged 27 percent on a constant dollar basis.
Direct to consumer revenue grew to $77.2 million or 18.4 per cent of total revenues in the third quarter of 2014, an increase from 16.3 per cent of total revenues in the third quarter of 2013.
Gross profit for the reporting quarter expanded by 3 per cent to $211.1 million and as a percentage of revenue, gross profit eased to 50.3 per cent from 53.9 per cent in same quarter of last year.
Income from operations for the quarter under review slipped 12 per cent to $81.2 million, and as a percentage of net revenue was 19.4 per cent also down from 24.3 per cent from the prior year quarter.
The effective tax rate for the third quarter of 2014 was 27.1 per cent as against 29.5 per cent a year ago.
Diluted earnings per share for the reporting quarter were $0.42 on net income of $60.5 million, compared to $0.45 on net income of $66.1 million in corresponding quarter of 2013.
During the third quarter of fiscal 2014, the apparel marketer repurchased 1.8 million shares of its common stock at an average cost of $40.49 per share. (AR)
