Lululemon Revenue Up 88% As Athleisure Shows ‘No Signs Of Slowing’

Building off a year of growth, Lululemon on Thursday reported first quarter revenues increased 88% to $1.2 billion, up from $652 million last year when stores were temporarily shut due to the pandemic, according to a company press release. Net revenue rose 57% over 2019, the company said. Direct-to-consumer net revenue increased 55%, but — as brick-and-mortar sales rebounded — sales represented 44.4% of total net revenue, down from 54% during Q1 2020. Men’s growth outpaced women’s compared to both 2020 and 2019, according to Lululemon CEO Calvin McDonald on a call with analysts. Unlike many retailers, the company was in the black a year ago, but net income still rose more than 400% from 2020 and 50% from 2019 to $145 million. Read more at Retail Dive.