Lululemon revenue falls 4 percent as $134.5m tariff refund lifts margins
$134.5m. That is the tariff refund Lululemon recognized in its second quarter.
Revenue fell 4 percent to $2.4bn, while comparable sales fell 9 percent. Revenue in the Americas declined 8 percent. International revenue rose 4 percent.
The refund added 560 basis points to both gross margin and operating margin. Including it, gross margin rose 200 basis points to 60.5 percent, while operating income fell 13 percent to $453.7m.
Diluted earnings per share fell to $2.92 from $3.10. The company said the refund contributed 86 cents to the latest figure.

