The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
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.
As the German sportswear giant taps surging demand for its Samba and Gazelle sneakers, it’s also taking steps to spread its bets ahead of peak interest.
A profitable, multi-trillion dollar fashion industry populated with brands that generate minimal economic and environmental waste is within our reach, argues Lawrence Lenihan.
RFID technology has made self-checkout far more efficient than traditional scanning kiosks at retailers like Zara and Uniqlo, but the industry at large hesitates to fully embrace the innovation over concerns of theft and customer engagement.
The company has continued to struggle with growing “at scale” and issued a warning in February that revenue may not start increasing again until the fourth quarter.