Lululemon Athletica Inc. has announced financial results for the third quarter of 2021. The brand’s Q3 comps showcase clear strength and growth in their sector, indicating a 30% increase in revenue to $1.5 billion. Total store sales also saw a substantial jump year-over-year. For the third quarter of 2021, compared to the third quarter of 2020:
- Net revenue increased 30% to $1.5 billion. On a constant dollar basis, net revenue increased 28%.
- Net revenue increased 28% in North America, and increased 40% internationally.
- Total comparable sales increased 27%, or increased 26% on a constant dollar basis.
- Comparable store sales increased 32%, or increased 31% on a constant dollar basis.
- Gross profit increased 32% to $829.4 million and gross margin increased 110 basis points to 57.2%.
- Income from operations increased 26% to $257.9 million. Adjusted income from operations increased 32% to $282.1 million.
- The Company opened 18 net new company-operated stores during the third quarter, ending with 552 stores.
“Our third quarter results demonstrate the ongoing strength of lululemon and the tremendous growth potential of the business in both the near- and long-term. We are pleased with our early holiday season performance and how the lululemon brand continues to resonate in markets around the world. We are energized by the exciting opportunities ahead, and I’m proud of our teams across the globe for their passion and agility – I want to thank everyone for delivering a strong quarter,” said Calvin McDonald, Chief Executive Officer.
Source: Lululemon Press Release
Photo Credit: Lululemon Instagram
