Lululemon continues to record financial gains despite the tight economic environment.
The athleisure company reported a 28% year-over-year increase in third-quarter revenue to $1.9 billion — a 103% increase from 2019.
- Revenue in North America jumped 26% year-over-year.
- International revenue increased 41%.
- Income from operations rose 37% year-over-year to $352.4 million.
Comparable store sales increased 14% year-over-year, and direct-to-consumer net revenue jumped 31%. Direct-to-consumer net revenue made up 41% of total net revenue.
Inventories increased 85% year-over-year to $1.7 billion.
Lululemon expects fourth-quarter revenue to land between $2.61 billion and $2.66 billion and full-year revenue to be in the range of $7.94 billion to $7.99 billion.
Under the company’s growth plan — which focuses on product innovation, guest experience, and market expansion — Lululemon aims to reach $6.25 billion-$12.5 billion in revenue by 2026.
During the three-month period, Lululemon opened 23 new stores — totaling 623 locations — and launched a new fitness platform and membership program.
The Lululemon Studio Membership, which requires the Lululemon Studio Mirror, costs $39 per month and includes unlimited access to content from the Studio and its partners, discounts at partner locations, 10% off Lululemon purchases, and other perks.