(3-6-2022). Lululemon closes a more than positive fiscal first quarter that makes it raise its prospects for the whole of 2022, a year in which it expects to invoice between 7,600 and 7,700 million dollars.
Lululemon closes the first quarter of 2022 with a turnover of 1,613 million dollars, which represents an improvement of 31.5% compared to the same period of the previous year.
Earnings have risen to 189.9 million dollars, 31% more than in the first quarter of 2021, in which the brand recorded a profit of 144.9 million dollars.
Sales increased by 32%, most of which came from its own stores, which recorded a 24% rise. Lululemon currently has 579 of its own stores, after opening five in the first quarter.
double digit growth
For the second quarter, the company expects net income of between 1,750 and 1,775 million dollars, which would represent a year-over-year improvement of 26%.
For the whole of 2022, it expects earnings to be between 7,610 and 7,710 million dollars, which would improve its 2021 result by 24%.
Calvin McDonald, CEO, stated: “In the first quarter of 2022, continued momentum in the business enabled us to achieve a strong start to the year. These results provide a strong foundation as we begin our next five-year journey and deliver on our new Power of Three ×2 growth plan.”
In fact, the athleisure brand is convinced of being able to double its income in four years, going from 6,250 million in 2021 to 12.5 billion in 2026. To do this, it has drawn up a plan with 3 axes, in which The landing in the Spanish market with its first stores is also contemplated.