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Lululemon's 5-Year Plan Begins to Take Hold

Posted On: Jun 12, 2019   |   Posted By: WWD

Lululemon Athletica Inc. is on a roll.
“There's been some talk about softness in the apparel space. But there's no doubt that 2019 is off to a great start for us,” said Calvin McDonald, chief executive officer, on a conference call covering the company's first-quarter results Wednesday. “We're beginning to live into our five-year growth strategy.”
The proof is in the results. Net sales for the quarter ending May 5 rose to $782.3 million from $649.7 million a year earlier. That's an increase of 20 percent. Traffic was up online and in stores during the quarter and comparable sales rose 14 percent.
Lululemon also pushed profits for the quarter to $96.6 million, up from $75.1 million during 2018's first quarter.
Shares of the company, which closed down 0.4 percent Wednesday to $170.89, are up more than 32 percent year-over-year, and inched upward during after-hours trading.
The Vancouver, Canada-based company revealed its five-year strategic growth plan at an analysts' day in April. The plan is to expand...

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