Lululemon Sales Acclerate in Q2, Helped by Big Online Sale
Net income fell 9% to $48,711,000 from $53,625,000 for the second quarter ended Jul. 30 on a 13% improvement in sales to $581,054,000 from $514,520,000 as $5.4 million in pre-tax restructuring costs from downsizing Ivivva hit the bottom line along with heavy investment in revamping the e-commerce site. Comp store sales were up 7%, which included a 2% gain in store comps and a 29% increase in digital sales that was driven by a warehouse sale this year. Excluding the impact of the warehouse sale, digital sales were up 15% for the period. Income from operations was down 7%, but ... Log in to view full article.