default-output-block.skip-main
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

Bolstered by Lockdown Measures, Lululemon Beats Earnings Estimates

A shift to remote working and at-home exercise around the globe due to the COVID-19 pandemic has increased demand for comfortable athletic clothing.
Lululemon sign | Source: Shutterstock
By
  • Reuters

VANCOUVER, Canada — Lululemon Athletica Inc. beat quarterly revenue estimates on Tuesday, boosted by a surge in online sales of yoga pants and other athleisure apparel to consumers spending more time at home.

A shift to remote working and at-home exercise around the globe due to the COVID-19 pandemic has increased demand for comfortable athletic clothing.

Lululemon said its direct-to-consumer business, which includes its online platform, rose 155 percent in the quarter.

The yogawear maker acquired at-home fitness company Mirror for $500 million in the reported quarter as it looks to diversify from apparel and capitalize on the booming demand for home workout classes spurred by coronavirus lockdowns.

Net revenue rose 2.1 percent to $902.9 million in the second quarter ended August 2, compared with estimates of $842.5 million, according to IBES data from Refinitiv.

The company reported a net income of $86.8 million, or 66 cents per share, in the quarter, compared with $124.99 million, or 96 cents per share, a year earlier.

By Mehr Bedi and Nivedita Balu; editors: Krishna Chandra Eluri.

In This Article

© 2021 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
Voices2021
© 2021 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions and Privacy policy.
Voices2021