Lululemon recorded net sales growth of 32% and 33% on constant dollar terms in the full year and fourth quarter of 2022, respectively. 

Lululemon store front

Lululemon is ‘looking forward to another year of strong momentum across the globe’

For the 12 months to December 2022, total like-for-like sales increased by 28%, with in-store sales increasing by 19% compared to 2021. 

In the same period, direct-to-consumer net revenue increased by 35%, accounting for 46% of the total net revenue as compared to 44% in 2021. 

Income from operations was flat at $1.3bn (£1bn) and adjusted income from operations increased 30% to $1.8bn (£1.5bn).  

For the first quarter of 2023, the athleisure brand said it expects net revenue growth of 18% and double the business from 2021 net revenue of $6.25bn (£5bn) as part of the company’s growth plan.

Chief executive officer Calvin McDonald said: “In the fourth quarter and full year 2022, we delivered strong results across the business driven by our innovative products, powerful guest experiences and strategic market expansion.  

“Our continued high level of performance is a reflection of the hard work and agility of our incredible teams and the deep connections they create with our guests and communities around the world. As we enter 2023, we look forward to another year of strong momentum across the globe and delivering on our ‘power of three ×2’ growth plan.” 

Chief financial officer Meghan Frank said: “We are pleased with our performance in the fourth quarter, which remained balanced across product category, channel and regions.  

“Our ability to exceed our annual revenue target in a dynamic operating environment is a testament to the enduring strength of the Lululemon brand. Looking ahead, we remain optimistic regarding our ability to deliver sustained growth and long-term value for all our stakeholders.” 

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