Lululemon Athletica, a Canadian healthy lifestyle inspired athletic apparel company for yoga and sweaty pursuits, reported 61 per cent revenue growth to $1.5 billion in the second quarter (Q2) of FY21 ended on August 1, 2021, over corresponding period of last fiscal. Net income for the quarter more than doubled to $208.0 million (Q2 FY20: $86.8 million).
Lululemon Athletica, a Canadian healthy lifestyle inspired athletic apparel company for yoga and sweaty pursuits, reported 61 per cent revenue growth to $1.5 billion in the second quarter (Q2) of FY21 ended on August 1, 2021, over corresponding period of last fiscal. Net income for the quarter more than doubled to $208.0 million (Q2 FY20: $86.8 million).#
“Our second quarter results demonstrate the continued momentum across the business, and how we are living into our Power of Three growth plan and Impact Agenda commitments. We launched exciting new products, experienced strength across channels and geographies, and announced new partnerships that will allow us to become a leader in product sustainability,”
Calvin McDonald, chief executive officer at Lululemon Athletica, said in a press release.
Lululemon Athletica, a Canadian healthy lifestyle inspired athletic apparel company for yoga and sweaty pursuits, reported 61 per cent revenue growth to $1.5 billion in the second quarter (Q2) of FY21 ended on August 1, 2021, over corresponding period of last fiscal. Net income for the quarter more than doubled to $208.0 million (Q2 FY20: $86.8 million).#
The company’s gross profit during second quarter surged to $842.7 million ($489.5 million), while selling, general and administrative expenses totalled to $541.3 million ($352.9 million). Income from operations expanded to $291.0 million ($124.4 million) at the end of the quarter.
Lululemon Athletica, a Canadian healthy lifestyle inspired athletic apparel company for yoga and sweaty pursuits, reported 61 per cent revenue growth to $1.5 billion in the second quarter (Q2) of FY21 ended on August 1, 2021, over corresponding period of last fiscal. Net income for the quarter more than doubled to $208.0 million (Q2 FY20: $86.8 million).#
Direct to consumer revenue increased 8 per cent to $597.4 million representing 41.2 per cent of total revenue compared to 61.4 per cent for the second quarter of FY20 ended on August 2, 2020. Moreover, the athletic apparel retailer’s revenue climbed 63 per cent in North America, and 49 per cent internationally.
Lululemon Athletica, a Canadian healthy lifestyle inspired athletic apparel company for yoga and sweaty pursuits, reported 61 per cent revenue growth to $1.5 billion in the second quarter (Q2) of FY21 ended on August 1, 2021, over corresponding period of last fiscal. Net income for the quarter more than doubled to $208.0 million (Q2 FY20: $86.8 million).#
In its outlook, the company mentioned that for the third quarter of 2021, it expects revenue to be in the range of $1.400 billion to $1.430 billion, while for the full fiscal 2021, the company anticipates sales to be in the range of $6.190 billion to $6.260 billion.
Lululemon Athletica, a Canadian healthy lifestyle inspired athletic apparel company for yoga and sweaty pursuits, reported 61 per cent revenue growth to $1.5 billion in the second quarter (Q2) of FY21 ended on August 1, 2021, over corresponding period of last fiscal. Net income for the quarter more than doubled to $208.0 million (Q2 FY20: $86.8 million).#
“Our performance in Q2 was driven by a strong response to our product offering, improving productivity in our stores, and sustained strength in e-commerce. While we continue to navigate the COVID-19 environment, including supply chain headwinds, I'm excited with our momentum as we head into the second half of the year and pleased to be able to increase our guidance. I too would like to thank the teams across the globe for enabling our solid financial performance,” Meghan Frank, Chief Financial Officer at Lululemon Athletica said.
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