Lululemon Athletica Inc. turned in another winning quarterly performance with earnings and sales that beat estimates. It also provided an upbeat outlook for its new fiscal year.
The athletic apparel, footwear and accessories retailer reported that its revenue rose to $2.771bn in the quarter ended 29 January, from $2.129bn from the prior year period. Total comparable sales increased 27 per cent. Comparable store sales rose 15 per cent, while direct-to-consumer net revenue increased 37 per cent.
In October, Lululemon launched Lululemon Studio, a new service accessible through the rebranded Lululemon Studio Mirror platform, Lululemon app and in-person experiences.
“Our continued high level of performance is a reflection of the hard work and agility of our incredible teams and the deep connections they create with our guests and communities around the world,” said CEO Calvin McDonald. “As we enter 2023, we look forward to another year of strong momentum across the globe and delivering on our Power of Three ×2 growth plan.”
