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Quarantine helped sportswear brand Lululemon increase sales in the U.S.



Growth in demand for comfortable clothing has increased due to the pandemic and sportswear retailers like Lululemon experiencing an uptick amid a general crisis.
sportswear brand Lululemon - depositphotos.com

Lululemon reported $1.1 billion in sales in the third fiscal quarter of 2020. That's a 22% increase over last year. In North America alone, net revenue was up 19% from the previous year.

Like other manufacturers of comfortable sportswear, the retailer was in a winning position during the pandemic. Staying home because of the quarantine, shoppers pay more attention to comfort clothing, buying it in much higher volumes than last year. Sportswear has become a must-buy item, while office suits, blouses, and dresses have become almost unnecessary.
 
An essential factor in the growth of Lululemon sales was the attention is paid to the development of e-commerce. The significant increase was demonstrated through direct sales to consumers, but only through the brand's stores and website, without intermediaries' involvement. Revenue from direct sales grew 94%, accounting for 42.8% of total revenue, up from 26.9% a year earlier. 

The company does not yet offer a forecast for 2020 results, citing the uncertainty of the situation. Because of the increased number of diseases and the introduction of restrictive measures, Lululemon was forced to re-close many stores. Thus, it is not yet possible to assess what the annual results of the company will be.

Photo credit: depositphotos.com.

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