Lululemon Earnings, Sales Top Estimates On Strong Demand For Workout Gear

Lululemon on Thursday reported sales of $1.1 billion, up 22% from a year ago and beating analysts’ estimates, as shoppers frequented the retailer’s stores and website to buy workout apparel during the period. In North America, net revenue grew 19%, boosted by its e-commerce business. Overall direct to consumer revenue increased 94%, the company said, representing 42.8% of total revenue compared with 26.9% a year ago. This represents the sales that Lululemon makes straight to consumers, using its stores and website, without any middlemen. Read more at CNBC.