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Lululemon sales and profits leap

Canadian activewear retailer Lululemon has announced a 25% revenue rise for the first quarter of 2018, up to $649.7 (£489.6m).

Profits also rose, as a result of strong ecommerce growth – gross profit for the three months to 29 April rose by 34% to $344.7m (£259.8m).

Total comparable sales rose by 20% for the period, fuelled by an 8% rise in comparable store sales and a 62% rise in direct online sales.

International revenues rose strongly, up 53% for the period, and the Asian market rose by 100%. In total Lululemon has 411 stores worldwide, and new stores opened in Guildford, Seoul, Berlin and Frankfurt during the period.

Glenn Murphy, Executive Chairman of the Lululemon board, said that the announcement: “reaffirms our strategic priorities”

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