Does Snitz wear Lululemon? Are they make money hand over fist?
I wouldn't be caught dead where that low-brow sheet. It's not nearly expensive enough for me. I only Gucci tights, underwear and gym shoes.
Lululemon shares opened up 14% this morning after a strong earnings report yesterday that saw Q4 revenue hit $2.8 billion and yearly sales rise 30% compared to 2021.
With yoga pants and comfortable athleisure wear at its core, Lululemon certainly benefitted from the home workout and general fitness boom brought about by the pandemic — since 2019 the apparel company’s seen sales more than double, helping to bolster its direct-to-consumer division as customers increasingly move online.
In that time, Lululemon’s expanded its exercise empire further, slipping into the shoe business, acquiring the at-home fitness product Mirror in 2020, and even introducing a subscription model offering exclusive access to items, fitness classes, and a new app later this year. Stretching out in general seems to come pretty naturally to the company.
Revenues at the fitness-focused firm have increased 37% on average each year since 2004, though the last few years have seen the company’s sales figures seriously bulk up. In 2019, Lululemon made just shy of $4 billion in sales, which rose to $6.3 billion only two years later and now sits at a very healthy-looking $8.1 billion for 2022.
The company’s financials elsewhere are in good shape as well — thanks to slick marketing and an almost cult-like customer base, Lululemon squeezes out some pretty juicy operating profit margins compared to huge competitors like Nike and Adidas.