Retail

Double-Digit Sales Growth For Lululemon In Q3

Athletic apparel maker Lululemon Athletica said a strong showing across Black Friday weekend helped the firm rebound from what had been a soft fourth quarter initially, even as sales were up double digits from a year ago in the third quarter.

InternetRetailer.com said that the period that ended Oct. 30 showed online sales up 19 percent of the total top line, an increase by 16.5 percent to $104 million in the period. Store sales, likewise, were up 11.3 percent to $393 million. Sales tied to the company’s “Other” segment, which are typically sourced from sales at the outlet locations, were roughly $47 million.

Online sales continue to increase as a share of revenues, having crossed the 19 percent threshold from 18.6 percent a year ago.

More recently, said CFO Stuart Haselden, the soft beginning to the fourth quarter was overshadowed by momentum through the Thanksgiving weekend, adding that the firm remains “on track” with a five-year plan to double revenues and 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, and 80 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.

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