Lululemon CEO: Digital Order Volumes Are at Holiday Season Levels
Lululemon Athletica (NASDAQ: LULU) is in a position to emerge from the COVID-19 crisis stronger than before. It navigated the store closures extremely well over the last few months thanks to investments in the direct-to-consumer business, including e-commerce sales.
While revenue for the fiscal first quarter fell 17% year over year, it could have been far worse. E-commerce comparable sales jumped 70% over the year-ago period. Online sales made up less than a third of its revenue last year, but comprised 54% of Lululemon's revenue in the most recent quarter.
Lululemon's digital platform has enjoyed tremendous growth in recent years, but this performance is beyond impressive. Here's what management had to say.
Source Fool.com
