Lululemon Athletica Inc. (NASDAQ: LULU) reported financial results for the second quarter. Net revenue amounted to USD 902.9 Million, a 2% increased compared to the same period a year ago. Store net revenue amounted to USD 287.2 Million, a 51% shortfall compared to the second quarter of fiscal 2019. Direct to consumer net revenues reached USD 554.3 Million, a 155% increased compared to the same period a year ago. Income from operations tallied to USD 124.4 Million while operating margin as 13.8%. Earnings per share was USD 0.66 compared to USD 0.96 a year ago.
Calvin McDonald, CEO of lululemon stated: “We’re pleased with our overall business results for the second quarter, as lululemon increasingly lives into its Omni potential. As trends around the world are shifting to working and sweating from home with an increased focus on health and wellness, we believe 2020 is likely an inflection point for retail and for lululemon.” McDonald continued: “We are cautiously optimistic with regard to the second half of the year as we continue to navigate the uncertain environment.”
Considering COVID-19 and other recent developments, the company has decided not to provide detailed financial guidance fr fiscal 2020 at this time.