A $72.1 million post-tax impact from impairment and other charges related to Lululemon Studio pulled third quarter net income down 3% to $248,714,000 from $255,470,000, as revenues surged 19% to $2,204,218,000 up from $1,856,889,000.

Net loss widened to $16,371,000 in the fiscal fourth quarter ended Sep. 30, from a loss of $281,000 last year, on revenues that were down 21% to $91,402,000 from $115,539,000.

Net income contracted 74% to $2,498,000 in the fiscal second quarter ended Oct. 31 from $9,648,000 a year ago, despite 3% higher revenues of $124,958,000 up from $121,035,000.

MTN’s retail and rental revenue declined 17% to $33,474,000 in the fiscal first quarter ended Oct. 31 from $40,344,000 in the historically slow period.

The ratings agency upgraded the league licensed kids’ apparel maker’s corporate family rating to Caa1 from Caa2 and its senior secured non-extended term loan to Caa2 from Caa3, while assigning a Caa2 rating to the amended senior secured term loan due 2027.