Lululemon, the Canadian-American sportswear retailer, is elated and has all the reasons to be!
The Vancouver-based apparel retailer has just surpassed US $ 6 billion in sales for the first time ever in 2021. Importantly, it has done so amidst all challenges and uncertainties.
While the net revenue surged by 23 per cent year-on-year to £1.59 billion in Q4, the gross profit rose by 22 per cent to £914 million.
The revenue growth was 40 per cent in North America and 53 per cent globally.
Notably, the sales were as per the expectations of the analysts and the profit was even better than that expected.
The fourth quarter also saw the athleisure retailer launch 22 new company-operated bricks-and-mortar locations.
Going forward, Lululemon expects – for the 2022/23 financial year – the net revenue to be somewhere between £5.7 billion and £5.79 billion, at a growth rate of 20 per cent to 22 per cent.
Last month, Lululemon had also announced its foray into the footwear section.
Also Read: Sportswear brand Lululemon expands into footwear now
Lululemon was founded in 1998 as a retailer of yoga pants and other yoga wear, and it soon expanded to also sell athleticwear, lifestyle apparel and fashion accessories.
