Lululemon Athletica FY19 revenue jumps 21% to $4 bn

27 Mar '20

2 min read

Pic: Lululemon Athletica

Lululemon Athletica, a healthy lifestyle inspired athletic apparel company for yoga, running, and most other sweaty pursuits, posted 21 per cent increase in its revenue to $3.97 billion in fiscal 2019 that ended on February 2, 2020 compared to revenue of $3.28 billion in prior year. Net income over the year rose to $645.59 million (FY18: $483.80 million).

"2019 was a strong year for lululemon, as our teams executed against our Power of Three growth plan. We are now navigating an extraordinary environment, which is currently impacting our business. The strength of our brand and strong financial position will help us manage through the day-to-day, while continuing to effectively plan for and invest in our future,” Calvin McDonald, chief executive officer of Lululemon Athletica, said in a press release.

Revenue in the fourth quarter (Q4) FY19 jumped 20 per cent to $1.39 billion compared to revenue of $1.16 billion in same period prior year. Net income over the quarter increased to $298.02 million (Q4 FY18: $218.46 million).

Gross profit in full fiscal increased 22 per cent to $2.22 billion compared to $1.81 billion in prior year. Selling, general and administrative (SG&A) expenses in FY19 was $1.33 billion (FY18: $1.11 billion).

Gross profit in fourth quarter increased 21 per cent to $810.82 million compared to $668.5 million in same period prior year. SG&A expenses in Q4 FY19 was $394.33 million (Q4 FY18: $337.16 million).

In February 2020, the company reported considering the outbreak of Covid-19 coronavirus, it temporarily closed all of its retail locations in Mainland China. All but one of these locations have since reopened. In March 2020, company temporarily closed all of its retail locations in North America, Europe, Malaysia, New Zealand, and temporarily closed their distribution center in Sumner, WA. These locations currently remain closed, as reported.

The Company ended the year with 491 stores.

Fibre2Fashion News Desk (JL)

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