Lululemon’s earnings release is the latest sign the athleisure trend has legs

by MR Magazine Staff

In another sign that the athleisure trend has staying power and will continue to reshape the fashion landscape, Lululemon, a pioneer of the trend, reported another quarter of better-than-expected results despite facing growing competition on all fronts. Lululemon’s comparable sales in the fiscal first quarter that ended May 5 rose a better-than-expected 16%, excluding currency impact. That included an 8% increase at its physical stores and a 35% surge online. Total sales rose 20% to $782.3 million. Gross margin, or the percentage of sales left minus the cost of goods sold, widened by 0.8 percentage points to an industry-envy 54%, partly after the company reduced discounts. Read more at Forbes.