Lululemon athletica inc. has released their third quarter results of fiscal 2020. The retailer’s performance was largely driven by a strong omnichannel presence.
Lululemon is on track to achieve their future goals, bringing in a net revenue increase of 22% for the quarter. Other highlights from the report include:
- Company-operated store revenue totaled $511.8 million
- Total comparable sales increased 19%
- Gross profit increased 24% to $627.4 million
- Income from operations increased 17% to $204.9 million
The company also opened five new stores in the US during their third quarter, bringing them to 515 company-operated stores across the nation.
“Our third quarter results demonstrate the strength of lululemon across channels and markets, both in North America and around the world. Our product innovations, investments in the e-commerce business, and strategic acquisition of MIRROR position us well to serve our guests as their needs evolve across both physical and digital experiences,” said Calvin McDonald, Chief Executive Officer.
Source: Lululemon Press Release 12/10/10, Lululemon Q3 2020 Earnings
Photo Credit: Lululemon – Store Locations
About lululemon athletica inc.
lululemon athletica inc. (NASDAQ:LULU) is a healthy lifestyle inspired athletic apparel company for yoga, running, training, and most other sweaty pursuits, creating transformational products and experiences which enable people to live a life they love. Setting the bar in technical fabrics and functional designs, lululemon works with yogis and athletes in local communities for continuous research and product feedback. For more information, visit www.lululemon.com.