Lululemon UK sales up following expansion
Lululemon, the Canadian activewear brand, achieved a 38% increase in UK sales to £40.8 million during the last financial year.
Profit after tax too was up 42% at £1.2 million in the year to 31 January 2019. UK employee numbers over the period increased from 250 to 279.
The improved performance came after Lululemon opened new stores in Guildford and Manchester and a new concession in Selfridges. The brand has 13 stores, including two concessions, in the UK and Republic of Ireland; most of the locations are concentrated in London such as Westfield, Kings Road, Regent Street, Spitalfields and Covent Garden.
In March the company revealed that net revenue for the whole group had hit $3.3 billion (up 24%) in FY 2018 while income from operations was up 55% at $705.8m.