Friday, June 2, 2023

Lululemon’s billing exceeds 8000 million, but profit is adjusted -12 percent

Madrid – The Canadian multinational fashion company Lululemon Athletica, a company specialized in the field of fitness whose shares are listed on the New York Stock Exchange, have just published accounts for the last fiscal year 2022. The full annual period ended last year on January 29. 2023, in which the company, which followed the dominant trend of this current mission marked by inflationary pressures, managed to advance its billing to new high levels, while still sinking to its profit and its benefits; both through these inflationary pressures and in the increase in costs, as well as in the case of losses of 442.7 million dollars related to the Mirror, the leg of the business connected with digital fitness equipment, now named “Lululemon Studio”.

Proceeding as the accounts of the Canadian company in the white paper, from Lululemon they report that 2022 was the last financial year of the company to complete, generating a total income worth 8,110.5 million dollars. The figure is +29.63 percent higher than the 6,256.6 million multinational sports fashion insurance negotiated between 2021; then +103.82 percent more than the “barely” 3,979.29 million obtained, which the company managed to guarantee for the entire 2019 fiscal year.

Confirming itself in this way in a business model that has only awakened and grown in the embraces of the corona virus pandemic, but is experiencing a perceptible adjustment from the current circumstances that dominate the market, about Lululemon they also report some net benefits that they have. This will reach 854.8 million dollars by the end of 2022. This is the sum which, for its part, represents a -12.36 percent drop in profits compared to the 975.32 million contributed the year before; but even so, the figure remains compared to the +32.41 percent shot by the 645.59 million net profit that the Canadian multinational collects at the end of the 2019 financial year.

“In the fourth quarter and full year 2012, we delivered strong results across our entire business model, driven by our advanced offerings, strong experiences, and timely market expansion,” explained Calvin McDonald, executive director of Lululemon Athletics, during a series of statements about the same Canadian sports management. They were published by a multinational. “Our constant focus on work is a reflection of the hard work and agility of our incredible team, as well as the deep connections they create with our customers and communities around the world,” McDonald added, while continuing to explain how “we’ll go.” in 2023, we expect to record another new year of strong growth around the world and moving forward with the strategic implementation of our growth plan “Power of Three x2”.

With a goal of exceeding 12 billion dollars, by 2026

Considering the most important aspects of this last year 2022 intended for the Canadian company, during this fiscal year Lululemon added up to a total of 81 stores to its store network, which ends the year at the figure of 750 establishments. . There are openings among which 2 stores of the company inaugurated in September in Barcelona and Madrid, which will be its last port in Spain after the launch, in August, of an online trading platform aimed exclusively at Spanish. market

In this way, constantly feeding the strategy of global growth, it was in this last financial year 2012 when the company, at the end of last April, presented the pillars of its new way, after having managed to achieve, and before the cards. The goals set for 2023, with a barrier of 6000 million dollars in turnover, at the end of its financial year 2011. The strategic plan is based on the review of the previous one, under the title “The power of three x2”, of which, as the main objectives, outside the port of Spain, the direction of Lululemon aims to double the volume of income generated by the collections of people; or continue to strengthen the connection with the customer community, through both physical and digital channels; all as double the annual income of 2011 than the annual income of 2016.

To this end, it is also true that the company ended up “failing” in the last quarter of this past 2022, reporting revenues that ended up increasing from 2,129 to 2,777.8 million (+30, 47 percent), which, however, ended up in net profit reflecting a sharp drop experienced, progressed from 434.5 to 119.8 million (-72.43 percent). The slide that was created due to the recognition of the company’s net losses by the amount of 442.7 million dollars, was reported to the Mirror. The strategic space of their business model, which they have come to restructure under the name “Lululemon Studio”, and for which they have announced the upcoming launch, for this summer of 2023, of the content of the new digital fitness application.

Outlook for 2023

In this way, with a view to the new financial year 2023, as the first estimates, Lululemon expects to close the first quarter of the financial year, experiencing a growth of about +18 percent in billing levels, between 1,890 and 1,930. million The quantity should reach this way to pave the way for the financial year that they hope to complete, this is the beginning, to gather all the income that they send up to about +15 percent, to end up at a figure close to the middle. 9,300 and 9,410 million. It’s a figure that leaves the Canadian company close to its strategic goal of doubling, by 2026, its revenue of twenty-five million dollars by its 2021 financial year.

I would also like you;

Nation World News Desk
Nation World News Desk
Nation World News is the fastest emerging news website covering all the latest news, world’s top stories, science news entertainment sports cricket’s latest discoveries, new technology gadgets, politics news, and more.
Latest news
Related news


Please enter your comment!
Please enter your name here