Net revenue

Lululemon Athletica’s net revenues in Canada grew 42% in FY21

Canadian lifestyle-inspired sportswear company Lululemon Athletica announced that its net sales increased 42% to $6.3 billion in fiscal 2021 compared to last year. fiscal year 2020. The company also recorded a 40% increase in net sales in North America and 53% percent internationally for the same period. Lululemon Athletica’s fiscal year ended January 30, 2022.

The company’s overall direct-to-consumer net income for fiscal 2021 was 44% of total net income, compared to 52% in fiscal 2020. Its gross profit for fiscal 2021 improved 46% for reach $3.6 billion and its gross margin increased by 170 basis points. points to 57.7% from fiscal 2020. Additionally, operating income increased 63% to $1.3 billion and adjusted operating income increased 62% to $1.4 billion, for the same period, Lululemon Athletica said in a press release.

Lululemon Athletica also announced results for its fourth quarter of fiscal 2021, in which the company’s net sales increased 23% to $2.1 billion from the fourth quarter of 2021. fiscal year 2020. In addition, its net sales increased by 21% in North America and by 35%. internationally, for the same period.

Canadian apparel company, Lululemon Athletica, reported that its net sales increased 42% to $6.3 billion in fiscal 2021 compared to fiscal 2020. The company also reported a 40% increase in net sales in North America and 53% internationally for the same period. Lululemon Athletica’s fiscal year ended January 30, 2022.

The Company’s comparable store sales for the fourth quarter of fiscal 2021 increased 32% and net direct-to-consumer revenue increased 17% or 16% in constant dollars compared to the fourth quarter of 2020. Plus, Lululemon Athletica’s gross profit rose 22% to $1.2 billion and gross margin fell 50 basis points to 58.1% for the same period.

Lululemon Athletica’s fourth quarter fiscal 2021 net revenue increased $2.3 billion, or 57%, from the fourth quarter of fiscal 2019, representing an annual growth rate composed of 25% over two years. Its gross margin increased by 180 basis points for the same period, the press release added.

For the first quarter of fiscal 2022, Lululemon Athletica expects net revenue to be between $1.525 billion and $1.550 billion, representing growth of 24% to 26% and revenue of ‘net business between $7.490 billion and $7.615. billion, representing a growth of 20 to 22% for the 2022 financial year.

“Our results were driven by strong and consistent performance across Lululemon Athletica’s products, channels and regions. Additionally, for both the fourth quarter and the full year, we delivered revenue growth above our power of three goals, despite the continued impact of COVID-19. and global supply chain issues. We are delighted to see Lululemon Athletica’s momentum continue into the start of 2022 and are optimistic about our performance for the year ahead,” Meghan Frank, CFO of Lululemon Athleticadeclared.

Fibre2Fashion (SF) News Desk