Summary by Moomoo AI
Lululemon Athletica reported a robust financial performance for the fiscal year 2023, with significant growth across key metrics. Net revenue surged by 19% to $9.6 billion, while comparable sales rose by 13%, or 14% on a constant dollar basis. The company saw a substantial 61% increase in income from operations to $2.1 billion, and a notable 83% rise in diluted earnings per share to $12.20, or 27% to $12.77 on an adjusted basis. Gross profit grew by 25% to $5.6 billion, with gross margin expanding by 290 basis points to 58.3%. Adjusted gross margin also increased, reaching 58.6%. The company's effective tax rate decreased to 28.8% from 35.9% in the previous year. Lululemon's growth was geographically widespread, with net revenue in the Americas up by 12%, China Mainland by a remarkable 67%, and Rest of World by 43%. The...Show More
