Dive Brief:
Building off a year of growth, Lululemon on Thursday reported first quarter revenues increased 88% to $1.2 billion, up from $652 million last year when stores were temporarily shut due to the pandemic, according to a company press release. Net revenue rose 57% over 2019, the company said.
Direct-to-consumer net revenue increased 55%, but as brick-and-mortar sales rebounded sales represented 44.4% of total net revenue, down from 54% during Q1 2020. Men s growth outpaced women s compared to both 2020 and 2019, according to Lululemon CEO Calvin McDonald on a call with analysts.
Unlike many retailers, the company was in the black a year ago, but net income still rose more than 400% from 2020 and 50% from 2019 to $145 million.
Lululemon Q1 2022 Earnings: Sales Rise by 88% Surpassing Estimates as Customer Traffic Rebounds
6 hours ago by Patrick Kariuki · 3 min read
Photo: Depositphotos
You have successfully joined our subscriber list. Lululemon’s forecast for the second quarter and the whole financial year, in general, is quite strong.
Lululemon Athletica Inc (NASDAQ: LULU) financial Q1 2022 report indicates that sales rose by 88% to surpass estimates as customers shopping habits go back to norm. The sportswear manufacturer, whose primarily focus is athletics apparel also gave a strong forecast for the second quarter and also raised the estimates of the remaining part of the year. The athletics apparel maker said that the decision to revise their targets was influenced by the healthy growth of the store. While addressing analysts, Calvin McDonald, the company’s director, said that he expects Lululemon’s international operations will grow to match the North America’s operations in the near
VANCOUVER - Lululemon Athletica Inc.'s revenue soared by 88 per cent in its latest quarter fuelled by an ongoing e-commerce expansion and a rebound in brick-and-mortar store sales, the company said Thursday.