Lululemon surpassed $6 billion in annual revenue for the first time in the company’s history following the release of the athleisure giant’s latest earnings report.
The athletic apparel retailer generated $2.1 billion in revenue in Q4 2021, a 23% increase compared to the same period the year prior, behind growth across all business segments.
Lululemon opened 22 new company-operated brick-and-mortar locations during the quarter, bringing its total to 574 stores worldwide.
- Full-year revenue reached $6.3 billion, a 42% increase year-over-year.
- Company-operated store revenue increased 70% compared to FY2020.
- Revenue grew by 40% in North America and increased 53% internationally.
- It repurchased 2.2 million shares at an average price of $369.16 per share.
Earlier this month, Lululemon stepped into footwear with the launch of The Blissfeel, the company’s first-ever women’s running shoe, which retails for $148. Lululemon plans to release three additional lines of women’s footwear. The company will unveil men’s footwear in 2023.
Lululemon’s foray into footwear is the company’s latest attempt at competing with top athletic brands like Adidas and Nike, but the brand also has a rival in fitness giant Peloton.
In November 2021, Peloton sued Lululemon for allegedly infringing intellectual property rights regarding its private label apparel line, which launched in September 2021. Lululemon immediately countersued.
Lululemon ran into more legal issues in January when Nike sued the company for patent infringement related to its Mirror Home Gym.