Lululemon Turns a Tidy Profit in a Terrible Quarter
The COVID-19 pandemic hurt just about every aspect of lululemon athletica's (NASDAQ: LULU) business over the last few months. Store closures pushed revenue lower and sent expenses rising as a percentage of sales, the apparel specialist revealed in its first-quarter earnings report this week.
But unlike many of its peers, Lululemon reported only a modest overall sales decline as customers embraced its online sales channel. The company managed to earn a profit during the historically difficult selling environment, too.
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Source Fool.com
