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Lululemon Acquires Another Sales Bump From Cooped-Up Shoppers

Published by

December 5, 2024
(GMT+2)

Lululemon Athletica Inc. reported a big leap in sales and profits in the most recent quarter, as pandemic-concerned shoppers snapped up its athletic apparel and other comfortable gear, but it provided a less colourful prognosis for the year-end period as coronavirus cease continue to rise.Net income grew by 22% to $1.1 billion for the three months to November 1, when compared with $916.14 million a year ago. Comparable sales-which usually include stores open at least a year and e-commerce leaped 19%, fueled by online sales.Net income climbed 12.3% to $143.6 million, compared with $126 million last year.The retailer is appearing as one of the winners from the coronavirus pandemic. Unlike some other mall-oriented chains, Lululemon was in a solid position heading into the pandemic, benefiting from the shift to healthier lifestyles and more casual dressing.

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