Lululemon Athletica posted net income of $239.0 million for the financial year ended Feb. 1, down from $279.5 million in the prior year, on 13 percent higher revenues of $1.8 billion. The situation was reversed in the final quarter, where the Canadian-based company raised its net earnings slightly to $110.8 million from $109.7 million as sales jumped by 16 percent to $602.5 million. On a comparable basis, assuming no changes in currency and no new store openings, sales were up by 8 percent. The gross margin declined to 51.5 percent from 53.5 percent in the quarter, and the operating margin fell to 26.1 percent from 29.6 percent.