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Clothing & Shoes

Lululemon Q2 net revenues top £1bn

The Vancouver-based retailer also reported a year-on-year net income rise of 140% to $208m (£150m) in the three-month period

Lululemon Athletica, the multinational athletic apparel retailer, has revealed its net revenues soared 61% year-on-year to $1.45bn (£1.04bn) in Q2 FY21.

The net global revenues for the first quarter of the financial year ended 31 January 2022 also represented a 64.2% rise from 2019’s levels.

The Vancouver-based retailer also reported a year-on-year net income rise of 140% to $208m (£150m) in the three-month period.

While the group’s North American operations saw a 63% net revenue increase from Q2 FY20, its international businesses also jumped 49% during the quarter.

Calvin McDonald, CEO at Lululemon, said: “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.”

Looking ahead, the firm has forecasted Q3 net revenues of between $1.4bn (£1.01bn) and $1.43bn (£1.03bn), while full-year net revenues are expected to reach $6.19bn (£4.46bn) to $6.26bn (£4.51bn).

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