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Lululemon annual revenue surpasses $6 billion for first time

Lululemon has seen its full year revenue surpass the £6 billion mark for the first time after net revenue in the fourth quarter rose by 23%… View Article

SPORTS AND LEISURE NEWS

Lululemon annual revenue surpasses $6 billion for first time

Lululemon has seen its full year revenue surpass the £6 billion mark for the first time after net revenue in the fourth quarter rose by 23% to $2.1 billion.

In the quarter ending 30 January 2022, total comparable sales increased by 22% while comparable store sales climbed by 32%.

Meanwhile, net revenue in the year to 30 January 2022 rose by 42% to $6.3 billion.

The company’s international business performed particularly well with a full year revenue uplift of 53%. Sales in North America were also strong, rising by 40% in the year,

Calvin McDonald, chief executive of Lululemon, said: “2021 was another successful year for Lululemon, which speaks to the enduring strength of our brand and our ability to deliver sustained growth across the business. We are proud that we passed the $6 billion in annual revenue milestone for the first time, and successfully achieved our Power of Three growth target ahead of schedule.

“This was especially impressive given the challenging macro backdrop. We are entering the new year from a position of strength, which we’ll build upon to continue delivering for our guests and shareholders in the years to come.”

Lululemon opened 22 net new company-operated stores during the year to end the period with 574 stores.

Looking ahead, Meghan Frank, chief financial officer of Lululemon, said: “Our results were driven by consistently strong performance across our products, channels, and regions. We are pleased to see our momentum continue at the start of 2022 and are optimistic about our performance for the year ahead.”

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