Quarter three, the period that ended Oct. 30, showed Lululemon store sales up 11.3 percent to $393 million. Sales tied to the company’s “Other” segment — typically sourced from sales at the outlet locations — totaled roughly $47 million in the third quarter. Revenue from Lululemon’s online channel accounted for 19.1 percent of total revenue, increasing 16.5 percent to $104.0 million.
Lululemon CFO Stuart Haselden said that the firm remains “on track” with a five-year plan to double revenues, more than double earnings and grow its digital footprint. The executive said that the “channel-agnostic” model has helped the success of its ship-from-store program. Eighty stores have been participating in that program, which has been helping to clear inventory. The company also finished its website design in Europe and the Middle East, among other areas.
Here are the numbers:
11.3 percent | Q3 store sales growth
$393 million | Store sales revenue
19.1 percent | Percentage of total revenue contributed by online sales
16.5 percent | Online sales increase over last year
$104 million | Online sales revenue
$47 million | “Other” revenue — mostly outlet location sales
80 | Number of stores participating in Lululemon’s ship-from-store program
5, 2x, >2x | Lululemon’s five-year plan seeks to double revenues and more than double earnings.