Lululemon annual revenue exceeds $6 billion for first time

Lululemon has seen its full year revenue surpass the £6bn mark for the first time, after net revenue in Q4 rose by 23% to $2.1bn.

In the quarter ending 30 January 2022, total comparable sales increased by 22% while comparable store sales climbed by 32%.

In addition, net revenue in the year to 30 January 2022 rose by 42% to $6.3 billion.

The athletic apparel retailer’s international business performed particularly well, with a full year revenue uplift of 53%.

Sales in North America also rose by 40% in the year.

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Lululemon opened 22 new company-operated stores during the year, ending the period with a total of 574 stores.

“2021 was another successful year for Lululemon, which speaks to the enduring strength of our brand and our ability to deliver sustained growth across the business,” Lululemon chief executive Calvin McDonald said.

“We are proud that we passed the $6 billion in annual revenue milestone for the first time, and successfully achieved our Power of Three growth target ahead of schedule.”

Lululemon chief financial officer Meghan Frank added: “Our results were driven by consistently strong performance across our products, channels, and regions.

“We are pleased to see our momentum continue at the start of 2022 and are optimistic about our performance for the year ahead.”

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