lululemon Reports 30% Revenue Increase, Majority of New Stores to Open in China in 2023

3月 30, 2023

On March 28th, lululemon, the Canadian yoga sportswear retailer, released key data for the fourth quarter and full year of fiscal year 2022, ending on January 29th, 2023. The fourth quarter net income increased by 30.2% year-on-year to $2.772 billion (+33% calculated at a fixed exchange rate), and full-year net income increased by 29.6% year-on-year to $8.11 billion, both exceeding previous expectations. However, due to increased discounting to clear excess inventory, lululemon’s gross margin for the fourth quarter decreased by 300 basis points to 55.1%.
Although Lululemon provi …