Lululemon’s revenue rose 22% to $1.1 billion in the third quarter of its 2020 fiscal year, topping Wall Street expectations.

CEO Calvin McDonald cites continued growth of the athleisure company’s e-commerce business and its $500 million acquisition of connected fitness platform Mirror as main drivers in the quarter.

Lululemon also discussed plans to expand its products:

• The company will release a “3D yoga mat” in 2021
• Footwear is coming in 2022

Lululemon sales sank 17% year-over-year in Q1 as shoppers pared back spending.

Credit for the rebound goes to a significant increase in e-commerce revenue, which totaled $478.3 million in the quarter, or 42.8% of Lululemon’s total revenue. That compares to $246.7 million, or 26.9%, last year.

Lululemon’s stock is up more than 58% year-to-date. It dipped slightly in aftermarket trading following the earnings release.

James Harden has yet to practice with the Houston Rockets ahead of the 2020-21 NBA season, but he has publicly committed to another organization: smart home air diffuser company Pura.

In addition to an undisclosed investment, Harden will serve as creative director for Pura and help grow brand awareness.

The company, founded in 2018, sells a $44 fragrance diffuser that lets users control their home scent from a smartphone.

The aromatherapy diffuser market is projected to be worth $3.22 billion by 2027, according to Grand View Research. The smart home appliances market could reach $92.72 billion.

Athletes Invested in Smart Technology: 

• NBA Hall of Famer Shaquille O’Neal invested in Ring in 2016. Amazon acquired the doorbell and security company for $1 billion in 2018.
• Connected fitness company Tonal’s recent $110 million raise included NBA MVP Steph Curry, golfer Michelle Wie and NFL player Bobby Wagner.

Other investments in Harden’s portfolio: sports drink BodyArmor, skin-care brand Art of Sport and sock company Stance.

Harden is linked to multiple teams in trade talks this offseason, including the Brooklyn Nets, Miami Heat, Milwaukee Bucks and Philadelphia 76ers.

The United States Olympic and Paralympic Committee has given American athletes permission to peacefully demonstrate at events without facing punishment. 

In support of recommendations from the committee’s racial and social justice council, the USOPC will also push the International Olympic Committee to change its much-maligned Rule 50 that prohibits protests at the Olympics. 

U.S. runners Tommie Smith and John Carlos were infamously expelled from the 1968 Mexico Olympics after raising their fists on the podium in the Black power salute.

Then-IOC president Avery Brundage, who did not object to Nazi salutes used at the Berlin-hosted 1936 Olympics, handed down the decision.

Protesting in Olympic sports has been a renewed point of tension since last year.

• Americans Gwen Berry and Race Imboden demonstrated at the 2019 Pan American Games and were both put on one-year probations by the USOPC. 
• Berry accused the USOPC of being hypocritical when it joined other major sports organizations who announced efforts to combat racial injustice in the wake of police killing George Floyd. 

The IOC has largely left it to national governing bodies to punish athletes who protest — but the USOPC’s stance could force a change to the power structure.