The yoga and activewear company’s revenue and profit for the holiday quarter were better than expected, reporting revenue up 24 percent year-over-year to $1.7 billion. While in-store sales decreased by 29 percent, online sales spiked by 92 percent on a constant dollar basis.
Lululemon has seen a surge during the pandemic, and said it is on track to reach its 2018 goals to double its men’s category and online sales and quadruple the size of its international business by 2023. In the year ending January 31, revenue increased 11 percent to $4.4 billion. Income from operations decreased, however, down 8 percent for the year to $820 million.