Lululemon Athletica Inc. closed the books on a record year and said it sees plenty of opportunities for growth as it moves forward.
The athletic apparel retailer reported more than $6bn in revenue for 2021, which was more than Under Armour’s take for the year. Lululemon plans to up its store expansion this year, opening about 70 net new stores, which includes 40 locations in international markets.
The company which recently entered the footwear category, is launching a collection designed for tennis this week. It’s also looking at growth in some other sports categories, and will roll out its first-ever collection designed for golf next week, said CEO Calvin McDonald on the earnings call. “We have ample opportunity to bring new technical solutions to our guests and I am pleased with how our product pipeline looks going forward,” McDonald told analysts.
Lululemon opened 53 stores last year, for a total of 574 locations at the end of its fourth quarter.
