Follow us

Menu
PARTNER WITH USFREE NEWSLETTER
VISIT TheIndustry.beauty

Lululemon revenues increase 61% to $1.5 billion

Tom Shearsmith
10 September 2021

Activewear and lifestyle brand Lululemon has released its financial results for the second quarter of 2021, revealing revenue and profit grew as stores reopened following the easing of COVID-19 restrictions.

Net revenue increased 61% to $1.5 billion, with company-operated stores net revenue increasing 142% to $695.1 million.

Direct to consumer net revenue increased marginally (8%) to $597.4 million. Direct to consumer net revenue represented 41.2% of total net revenue compared to 61.4% for the second quarter of 2020, with customers moving away from ecommerce and towards retail once more.

Gross profit increased 72% to $842.7 million and gross margin increased 390 basis points to 58.1%.

The activewear company also opened 11 new company-operated stores during the second quarter, ending the period with 534 stores.

Calvin McDonald, Lululemon Chief Executive Officer, commented: "Our second quarter results demonstrate the continued momentum across the business, and how we are living into our Power of Three growth plan and Impact Agenda commitments. We launched exciting new products, experienced strength across channels and geographies, and announced new partnerships that will allow us to become a leader in product sustainability."

Lululemon's financial success can be partially attributed to the appointment of Meghan Frank as Chief Financial Officer, who became the company’s first female CFO last year.

Free NewsletterVISIT TheIndustry.beauty
cross