Lululemon Athletica continues along a steady path to growth amid the pandemic, despite losses earlier this year — but Wall Street wasn’t satisfied.
A Lululemon brick-and-mortar location. “Stores are and always will be part of our ecosystems,” said Lululemon ceo Calvin McDonald. STRF/STAR MAX/IPx As of Aug. 2, 492 of Lululemon’s 506 company-operated stores had reopened. But in-store traffic remains around 75 percent of last year’s levels, because of social distancing needs, McDonald told analysts on Tuesday evening’s conference call.
Meanwhile, e-commerce sales remained a bright spot for the company, surging 155 percent to $554 million, during the same period, year-over-year. China’s digital business grew more than 130 percent during the quarter, year-over-year, while Europe’s e-commerce business was up 160 percent, year-over-year.
“The health and wellness trends are here to stay,” he continued. “The world is looking for more of what we have to offer. We’re going to lean in and invest more in the back half of the year.”
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