Lululemon on track for $4 billion revenue by 2020
01/09/2017
Total comparable sales were up 7%, comparable store sales increased 2% and there was a 29% rise in direct to consumer revenue.
“This strong brand momentum reinforces my confidence in our long-term strategy,” said Laurent Potdevin, Lululemon CEO. "The acceleration that we have seen across the business in the second quarter enables us to take another positive step on our path towards achieving $4 billion in revenue by 2020.”
Lululemon also announced pre-tax costs totalling $5.4 million in the second quarter as part of the ongoing restructure of its Ivivva Athletica business. The company has spent $23.2 million to this end so far in the current fiscal year, and expects this to increase to between $50 million and $60 million by the end of the 12-month period.
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