The company said net revenue for 2023 rose from $8.1 billion to $9.6 billion, an increase of 19%, or 20% on a constant dollar basis. Comparable sales grew 13%.

1. 01

   The company said net revenue for 2023 rose from $8.1 billion to $9.6 billion, an increase of 19%, or 20% on a constant dollar basis. Comparable sales grew 13%.

2. 02

   Lululemon said gross margin rose 290 basis points to 58.3% in 2023, and operating margin rose 580 basis points to 22.2% (2022 16.4%). Income from operations increased 61% to $2.1 billion.

3. 03

   The company said its adjusted measures for 2023 exclude $72.1 million of post-tax asset impairment and other charges related to lululemon Studio. It also said adjusted income from operations rose 25% to $2.2 billion, and the adjusted operating margin was 23.2%.

4. 04

   The company said it repurchased 1.5 million shares in 2023 for a total of $558.7 million, including commissions and excise tax, and repurchased 1.4 million shares for $444.0 million in 2022. It said it expects capital expenditures in 2024 of $690.0 million to $710.0 million.

Key figures

Fiscal year ended January 28, 2024

Revenue

$8.1B

Operating income

$1.3B

Net income

$855M

EPS

$6.68

Gross profit

$4.5B

Operating cash flow

$966M

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.