International sales drive 10% rise for Lululemon
10/06/2024
Americas revenue increased 3% while international revenues grew 35%.
CEO Calvin McDonald said: "In the first quarter, we saw strong momentum in our international markets, demonstrating how our brand continues to resonate around the world."
Meghan Frank, chief financial officer, added: "As we look to the rest of the year, we remain focused on leveraging our strengths and differentiated model to advance our Power of Three ×2 strategy and fuel performance.
The company's Power of Three ×2 growth plan calls for a doubling of the business from 2021 net revenue of $6.25 billion to $12.5 billion by 2026. The key pillars are product innovation, consumer experience and market expansion. The strategy includes a plan to double men's, double e-commerce, and quadruple international net revenue relative to 2021.
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