Lululemon sees US$392.9M in net income in Q2, net revenue also up

VANCOUVER – Lululemon Athletic Inc. says its net income reached US$392.9 million in its second quarter as net revenue climbed.

The Vancouver-based apparel company says its second-quarter net income was up from US$341.6 million a year prior.

Net revenue for the company, which keeps its books in U.S. dollars, totalled US$2.4 billion during the period ended July 28, up from US$2.2 billion during the same quarter last year.

Net revenue attributable to Lululemon’s international markets rose 29 per cent over last year, while the portion linked to the Americas rose by one per cent.

Lululemon’s diluted earnings per share were $3.15 compared with $2.68 in the second quarter of 2023.

The company’s CEO Calvin McDonald says the results reflect ongoing strength in the company’s international business and in its U.S. product assortment.

This report by The Canadian Press was first published Aug. 29, 2024.