Lululemon Athletica saw a slight bump in Q2 after reopening stores that had been closed due to the COVID-19 pandemic.
Net revenue was $902.9 million, an increase of 2% compared to the second quarter of fiscal 2019. On a constant dollar basis, net revenue increased 3%. Direct to consumer net revenue was $554.3 million, an increase of 155% compared to the second quarter of fiscal 2019. On constant dollar basis, direct to consumer net revenue increased 157%.
“We’re pleased with our overall business results for the second quarter, as Lululemon increasingly lives into its omni potential,” said Calvin McDonald, CEO. “As trends around the world are shifting to working and sweating from home with an increased focus on health and wellness, we believe 2020 is likely an inflection point for retail and for Lululemon. We are cautiously optimistic with regard to the second half of the year as we continue to navigate the uncertain environment.”