Lululemon Athletica revenue drops 16.6 percent for Q1

The company said on Thursday its Q1 net profit dropped. Revenues decreased by 16.6 percent from the same period last year.

For Q1, the company's net profit was 29 million dollar, which decreased from 97 million dollar last year. Revenues decreased to 652 million dollar. Compared to 12 percent a year ago, the profit margin of the company dropped to 4 percent.

Lululemon Athletica Inc. (NASDAQ: LULU) is a yoga-inspired athletic apparel company, which produces a clothing line and runs international clothing stores from its company base in Vancouver, Canada. The company was founded in 1998 currently operates 440 retail stores in 14 countries across the globe.

As of 2,020, Lululemon Athletica has more than 19,000 employees and operates over 500 stores.

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