lululemon Reports Second-Quarter Online Sales Jump 157 Percent Year-Over-Year

by Alex Tostado

Vancouver — lululemon Athletica Inc. (Nasdaq: LULU) has reported online sales jumped 157 percent in the second quarter compared to Q2 2019. The Vancouver-based retailer closed stores in its North American, European and Asian Pacific portfolio in the first quarter due to the coronavirus pandemic. lululemon began reopening stores in the second quarter. As of Aug. 2, 492 of 506 company-operated stores were open. The clothing store reported in-store sales were up 3 percent year-over-year.

“We’re pleased with our overall business results for the second quarter, as lululemon increasingly lives up to its [ominichannel] potential,” says lululemon CEO Calvin McDonald. “As trends around the world are shifting to working and sweating from home with an increased focus on health and wellness, we believe 2020 is likely an inflection point for retail and for lululemon. We are cautiously optimistic with regard to the second half of the year as we continue to navigate the uncertain environment.”

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