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Lululemon Athletica fiscal Q2 profit falls 13.1% YOY

Lululemon Athletica Inc. said its normalized net income for the fiscal second quarter ended Aug. 3 amounted to 30 cents per share, compared with the S&P Capital IQ consensus estimate of 29 cents per share.

EPS declined 12.9% year over year from 34 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $43.6 million, a decline of 13.1% from $50.2 million in the year-earlier period.

The normalized profit margin fell to 11.2% from 14.6% in the year-earlier period.

Total revenue rose 13.4% on an annual basis to $390.7 million from $344.5 million, and total operating expenses increased 21.6% from the prior-year period to $322.8 million from $265.5 million.

Reported net income fell 15.6% from the prior-year period to $48.0 million, or 33 cents per share, from $56.9 million, or 39 cents per share.