lululemon athletica inc reported the following information (in US$ thousands) for the three fiscal years ended: January 28, 2018 January 29, 2017 January 31, 2016 Net sales $2,649,181 $2,344,392 $2,060,523 Cost of goods sold 1,250,391 1,144,775 1,063,357 Profit from operations 456,001 421,152 369,076 Profit 258,662 303,381 266,047 x Your answer is incorrect. Calculate the gross profit margin and profit margin for lululemon for each of the three years. (Round answers to 1 decimal place, eg. 52.7%.) 2018 2017 2016 Gross profit margin 0.52 0.51 % 0.48 96 Profit margin % % % X Your answer is incorrect. Recalculate profit margin using profit from operations as opposed to profit. (Round answers to 1 decimal place, 4.52.7%) 2018 2017 2016 Profit margin (Profit from operations) % %6 e Textbook and Media