lululemon athletica inc
For the period ended Jan 28, 2024. Filed Mar 21, 2024.
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FY2024 · Filed Mar 21, 2024
LULU$112.53+1.6%Stored close · as of Nov 9, 2026
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Item 7. Results of Operations
The following table summarizes key components of our results of operations for the periods indicated:
| 2023 | 2022 | 2021 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
| (In thousands) · (Percentage of net revenue) | ||||||
| Net revenue | $9,619,278 | $8,110,518 | $6,256,617 | 100.0% | 100.0% | 100.0% |
| Cost of goods sold | 4,009,873 | 3,618,178 | 2,648,052 | 41.7 | 44.6 | 42.3 |
| Gross profit | 5,609,405 | 4,492,340 | 3,608,565 | 58.3 | 55.4 | 57.7 |
| Selling, general and administrative expenses | 3,397,218 | 2,757,447 | 2,225,034 | 35.3 | 34.0 | 35.6 |
| Impairment of goodwill and other assets, restructuring costs | 74,501 | 407,913 | — | 0.8 | 5.0 | — |
| Amortization of intangible assets | 5,010 | 8,752 | 8,782 | 0.1 | 0.1 | 0.1 |
| Acquisition-related expenses | — | — | 41,394 | — | — | 0.7 |
| Gain on disposal of assets | — | (10,180) | — | — | (0.1) | — |
| Income from operations | 2,132,676 | 1,328,408 | 1,333,355 | 22.2 | 16.4 | 21.3 |
| Other income (expense), net | 43,059 | 4,163 | 514 | 0.4 | 0.1 | — |
| Income before income tax expense | 2,175,735 | 1,332,571 | 1,333,869 | 22.6 | 16.4 | 21.3 |
| Income tax expense | 625,545 | 477,771 | 358,547 | 6.5 | 5.9 | 5.7 |
| Net income | $1,550,190 | $854,800 | $975,322 | 16.1% | 10.5% | 15.6% |
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