The Canada-based yogawear label Lululemon Athletica Inc. has had an impressive third quarter, with its revenue jumping by 22 per cent to clock US $ 1.1 billion. That’s better than what analysts had predicted.
Reportedly, the increase has been 19 per cent in North America and 45 per cent worldwide.
The same store sales too rose by 18 per cent, which was much more than 4.3 per cent estimated by Consensus Matrix.
Expressing delight over the numbers, Calvin McDonald, CEO, Lululemon, attributed the good performance to consistency of the retailer in bringing out new products, effective inventory management and, importantly, providing pay protection to its workers.
Additionally, online sales too accounted for 43 per cent of revenue during the quarter.
The retailer now hopes the revenue to grow in Q4 as well after Thanksgiving week witnessed ‘record-breaking’ online performance.
Encouraged by good numbers, Lululemon also plans to venture into footwear market in 2021. However, it may start selling footwear products only by 2022.
Meanwhile, the retailer is also working on more ways to integrate its recent acquisition of Mirror. The retailer has already said that it will be selling Mirror devices across its US stores.
Also Read: Lululemon to sell Mirror devices across all its US stores; new features added
The Q3 also saw the retailer’s inventory rise by 23 per cent from what it was a year back. Known for yoga pants and yoga wear, Lululemon generates revenue of US $ 4 billion.
Bharat Tex Special Report 2026 
