Lululemon quarterly sales top expectations, CEO ‘cautiously optimistic’ for rest of 2020
September 8, 2020
Lululemon reported surprise revenue growth, despite lockdowns, as stores started reopening and consumers stocked up on workout apparel and yoga accessories. Lululemon’s net income shrank during the second quarter to $86.8 million, or 66 cents a share, from $125 million, or 96 cents a share, a year earlier. Revenue rose about 2% to $902.9 million from $883.4 million a year earlier, topping expectations for $842.5 million. Online sales were up 157%. Read more on CNBC.