The net revenue growth in the mainland China market increased by 56%, or 60% when calculated at a fixed USD exchange rate.

Lululemon is expected to open approximately 55 new stores globally in the 2023 fiscal year, with the majority of them planned for China.

Wealthy consumers are still flocking to buy Lululemon’s tops, yoga pants, and shorts, boosting both online and brick-and-mortar store traffic.

After this news was sent out, as of the close on January 9, lululemon’s share price fell 9.29% to $298.66 from the previous trading day, and the current company’s market value is about $38.084 billion.

In the reported fiscal year, lululemon’s Power of Three x2 growth plan performs well in all three key pillars.