lululemon athletica inc.(LULU), a leading athletic apparel ret ailer, has announced its financial results for the quarter ended April 30, 2023. The company reported a net income of $290.4 million for the quarter, reflecting its strong performance in the market. Additionally, lululemon achieved impressive revenue of $2 billion during the same period. These financial figures highlight the company's continued growth and success in the athletic apparel industry.
Financial Statements
Consolidated Balance Sheets
The unaudited consolidated balance sheets of lululemon athletica inc. reveal the company's financial position as of April 30, 2023, compared to January 29, 2023. The company's current assets amounted to $3.05 billion, including $950.6 million in cash and cash equivalents, $107.5 million in accounts receivable, and $1.58 billion in inventories. The company's total assets were recorded at $5.57 billion.
Consolidated Statements of Operations and Comprehensive Income
lululemon's unaudited consolidated statements of operations and comprehensive income for the quarter ended April 30, 2023, demonstrate its financial performance. The company reported net revenue of $2 billion, indicating a substantial increase from $1.61 billion in the same quarter last year. The cost of goods sold was $849.9 million, resulting in a gross profit of $1.15 billion. Selling, general, and administrative expenses amounted to $747.5 million, while income from operations reached $401.4 million. Overall, lululemon achieved a net income of $290.4 million, reflecting its profitability and growth.
Consolidated Statements of Stockholders' Equity
The unaudited consolidated statements of stockholders' equity for the quarter ended April 30, 2023, present changes in the company's equity during the period. Notable adjustments include the issuance of common stock upon settlement of stock-based compensation and the repurchase of common stock. As of April 30, 2023, lululemon's total stockholders' equity amounted to $3.32 billion.
Consolidated Statements of Cash Flows
lululemon's unaudited consolidated statements of cash flows outline the company's cash inflows and outflows for the quarter ended April 30, 2023. The company generated cash flows from operating activities amounting to $438.5 million, primarily driven by its net income. Additionally, lululemon invested $43.9 million in property and equipment and paid dividends of $40.2 million. The company's cash and cash equivalents decreased to $950.6 million during the quarter.
lululemon athletica inc. has delivered impressive financial results for the quarter ended April 30, 2023. The company reported a net income of $290.4 million, showcasing its profitability and strong performance. Furthermore, lululemon generated $2 billion in revenue, underscoring its continued success in the athletic apparel market. With a solid financial position and a commitment to delivering high-quality products, lululemon is well-positioned for future growth and innovation.