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Lululemon Athletica Inc (LULU) has reported a 15.94 percent rise in profit for the quarter ended Jan. 29, 2017. The company has earned $136.14 million, or $0.99 a share in the quarter, compared with $117.42 million, or $0.85 a share for the same period last year. Revenue during the quarter grew 12.16 percent to $789.94 million from $704.28 million in the previous year period. Gross margin for the quarter expanded 384 basis points over the previous year period to 54.17 percent. Total expenses were 75.11 percent of quarterly revenues, down from 76.39 percent for the same period last year. This has led to an improvement of 128 basis points in operating margin to 24.89 percent.
Operating income for the quarter was $196.63 million, compared with $166.28 million in the previous year period.
Laurent Potdevin, chief executive officer, lululemon, commented: "2016 marks a milestone year where our successful execution against long-term strategies returned the company to positive operating income growth for the first time in three years. These results reflect our strong brand and solid foundation now in place to drive our future performance."
For the first-quarter, Lululemon Athletica forecasts revenue to be in the range of $510 million to $515 million. Lululemon Athletica forecasts revenue to be in the range of $2,550 million to $2,600 million for fiscal year 2017. The company expects diluted earnings per share to be in the range of $0.25 to $0.27 for the first-quarter. For fiscal year 2017, the company expects diluted earnings per share to be in the range of $2.26 to $2.36.
Operating cash flow improves significantly
Lululemon Athletica Inc has generated cash of $385.12 million from operating activities during the year, up 28.91 percent or $86.38 million, when compared with the last year. The company has spent $149.51 million cash to meet investing activities during the year as against cash outgo of $143.49 million in the last year.
The company has spent $25.34 million cash to carry out financing activities during the year as against cash outgo of $273.69 million in the last year period.
Cash and cash equivalents stood at $734.85 million as on Jan. 29, 2017, up 46.53 percent or $233.36 million from $501.48 million on Jan. 31, 2016.
Working capital increases sharply
Lululemon Athletica Inc has recorded an increase in the working capital over the last year. It stood at $921.29 million as at Jan. 29, 2017, up 33.22 percent or $229.75 million from $691.54 million on Jan. 31, 2016. Current ratio was at 4.82 as on Jan. 29, 2017, up from 4.07 on Jan. 31, 2016.
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