Lululemon e-commerce sales soar as the brand cashes in on the at-home fitness boom and doubles down on Mirror

SourceBusiness Insider
SectorRetail
CountryGCC

Lululemon exceeded investor expectations in the second quarter of 2020, reporting a comparable sales increase of 2% and e-commerce sales that rose a whopping 157%. Lululemon CEO Calvin McDonald said the brand has proven "ideal for enabling the work-from-home and versatile lifestyle that has grown exponentially" during the pandemic. The company also reported early success from its June acquisition of Mirror, the high-tech at-home fitness startup company it bought for $500 million.  Visit Business Insider's homepage for more stories. As Americans trade in office wear for leggings and skip group classes in favor of living room yoga sessions, brands like Lululemon have become uniquely positioned to respond to emerging trends in both fashion and fitness. The company exceeded Wall Street expectations in the second quarter of 2020, reporting on Tuesday that comparable sales ...read more...