Lululemon, the popular athleisure brand, has just scored a major win in the retail game. Despite facing tough competition, the company’s latest financial report shows it’s still got plenty of stretch left in its yoga pants.
In simpler terms, Lululemon made more money than expected in the last three months. They brought in $2.40 billion, up from $2.20 billion last year. That’s like selling an extra 2 million pairs of leggings! Even better, they’re now expecting to make between $10.45 and $10.49 billion for the whole year. To put that in perspective, that’s about the same as the entire GDP of Jamaica!
But it’s not all smooth sailing in the land of stretchy pants. While Lululemon is killing it overseas, sales in North America have dipped slightly. It seems some of us are cheating on Lululemon with newer brands like Alo and Vuori. (Don’t worry, we won’t tell your Align leggings.) Despite this hiccup, the company’s doing so well that they’re planning to buy back $1 billion worth of their own stock – basically, they’re investing in themselves.
So why should you care? Well, if you’re a Lululemon fan, this means your favorite brand isn’t going anywhere. If you’re an investor, the company’s stock jumped 8% after this news, which is like finding an extra cookie in your package. And if you’re neither? Well, it’s a reminder that even in a tough economy, people are still willing to splurge on comfy, stylish clothes. Maybe it’s time to treat yourself to those joggers you’ve been eyeing – you know, for economic reasons.
