With Big Gains in E-Commerce, Lululemon Posts Q1 Profit
Showing just how well positioned its business is to cope with the current environment, the lulunatics reported net income of $28.6 million compared to $96.6 million on a 17% sales decline to $652.0 million against $782.3 million as e-commerce sales surged 70% over a 35% comp last year to $352.0 million, or 54% of total revenue. That mostly offset the 49% decline in store revenue to $260.0 million against $506.4 million. Other sales, including outlets and pop-up stores, were $40.0 million against $66.0 million. The stock eased 4.7% to $308 on a bearish day in the markets due to pessimism ... Log in to view full article.