Canadian apparel company Lululemon Athletica's FY20 revenue jumps 11%

Lululemon Athletica, a Canadian healthy lifestyle inspired athletic apparel company for yoga and sweaty pursuits, reported 11 per cent revenue growth to $4.4 billion in its fiscal 2020 ended on January 31, 2021 compared to the revenue of $3.9 billion in the previous fiscal. The company’s net income for FY20 dropped to $588.9 million (FY19: $645.6 million).

 

Lululemon Athletica, a Canadian healthy lifestyle inspired athletic apparel company for yoga and sweaty pursuits, reported 11 per cent revenue growth to $4.4 billion in its fiscal 2020 ended on January 31, 2021 compared to the revenue of $3.9 billion in the previous fiscal. The company's net income for FY20 dropped to $588.9 million (FY19: $645.6 million).#

“I'm proud of how we navigated this past year and delivered for our employees, guests and shareholders. Our continued growth demonstrates the strength of lululemon -- before, during and as the pandemic subsides. We are still in the early innings of our growth, fuelled by exciting innovations that create even more opportunity into the future,” Calvin McDonald, chief executive officer at Lululemon Athletica, said in a press release.

 

Lululemon Athletica, a Canadian healthy lifestyle inspired athletic apparel company for yoga and sweaty pursuits, reported 11 per cent revenue growth to $4.4 billion in its fiscal 2020 ended on January 31, 2021 compared to the revenue of $3.9 billion in the previous fiscal. The company's net income for FY20 dropped to $588.9 million (FY19: $645.6 million).#

The company’s gross profit for the year grew to $2.4 billion ($2.2 billion), while selling, general and administrative expenses were $1.6 billion ($1.3 billion). Lululemon’s income from operations for the year fell 8 per cent to $819.9 million ($889.1 million).

 

Lululemon Athletica, a Canadian healthy lifestyle inspired athletic apparel company for yoga and sweaty pursuits, reported 11 per cent revenue growth to $4.4 billion in its fiscal 2020 ended on January 31, 2021 compared to the revenue of $3.9 billion in the previous fiscal. The company's net income for FY20 dropped to $588.9 million (FY19: $645.6 million).#

“In response to the Covid-19 pandemic, our teams reacted quickly to ensure we met the evolving needs of our guests. We pulled forward investments in our direct-to-consumer channel, completed our first acquisition, and tightly managed expenses while also supporting our people,” Meghan Frank, chief financial officer at Lululemon Athletica said.