Dive Brief:
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Lululemon Athletica’s Q3 online and same-store sales increased 3% year over year, beating expectations of a 2.1% increase.
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Q3 net income fell 8.5% to $60.5 million, and the company raised its profit forecast.
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The company has shifted gears somewhat by meeting the increasing demand for activewear worn for non-athletic activities, and boosting its offerings for men.
Dive Insight:
Lululemon’s strange year seems to finally be in the rear-view mirror. The retailer, which arguably helped spark the current alth-leisure trend, has been pre-occupied by product quality and public relations missteps, boardroom battles, and an overall sense that it could be getting left behind in its own category. But, with much of that behind it, the company seems to be recovering its sales, if not its entire groove.