Lululemon grows double digit, revenue reach 916 million in third quarter
The sportswear company grew 23% in the third period, fueled by direct to consumer sales, that increased 30% year-on-year.
Lululemon’s double digit growth in the period. The sportswear company ended the third quarter with sales of 916.1 million dollars, up 23% compared to the same period of 2018. The company continues increasing its revenue above 20% and in the first nine months of the year reached sales of 2.5 billion dollars.
The company’s stated that direct consumer sales have grown at a higher rate than average, with a year-on-year increase of 30% in the third quarter of 2019. This performance has made this channel has to represent 26.9% of total sales of the company. The company ended the period with 479 directly operated stores.
The sportswear company announced yesterday the departure of its chief operation officer and EVP, International, Stuart Haselden, effective January 10, 2020. Haselden joined lululemon in 2015 as chief financial officer and was one of three leaders who guided the company during its chief executive officer search last year.
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