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Lululemon sales surge as athleisurewear trend cools

  • News
  • September 7, 2017
Lululemon sales surge as athleisurewear trend cools

Lululemon’s brand strength has been contributed to its strong second quarter financial results, with sales surging 13 percent even as the athleisurewear hype cools down. 

The Canadian owned company saw both total and comparable sales surging ahead by 13 per cent and 7 per cent, respectively. Online sales surged 30 per cent.

Despite the great sales numbers, a slight disappointment comes from the bottom line, where operating margin and net income ($48.7 million) both fell. Some of this was down to asset impairment and resulting costs, but even when this is factored out the results were still weaker than the prior year.

Among Lululemon’s male shoppers, average spend is up as is the average number of products purchased. Some of this is the result of a much more comprehensive range of men’s product, especially beyond bottoms, which is the traditional entry product to the brand.

Lululemon tests the durabilty of products before introducing them to market.

Net revenue was $581.1 million, an increase of 13 percent compared to the second quarter of fiscal 2016.

Laurent Potdevin, CEO, lululemon, says "Our performance reflects the growing global consumer response to lululemon's unique position as the leading brand that defines an active, mindful lifestyle. Through continuing to deliver category-defining product innovation, we are creating experiences that our guests, both existing and new, desire. This strong brand momentum reinforces my confidence in our long-term strategy."

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Kiwi retailers cash in on Singles’ Day

  • News
  • November 21, 2017
  • Sarah Dunn
Kiwi retailers cash in on Singles’ Day

The Chinese holiday Singles’ Day, popularised by Alibaba as the ’11.11 Global Shopping Festival’, is now the biggest sale event in the world. Alibaba reports that US$25.3 billion of gross merchandise volume was settled during the 24 hours of Singles’ Day this year. Not all of that went to Chinese retailers, however – a handful of Kiwis made the most of the opportunity.

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Updated: Noel Leeming launches a dedicated after-purchase services division

  • Technology
  • November 20, 2017
  • Sarah Dunn
Updated: Noel Leeming launches a dedicated after-purchase services division

The Warehouse Group’s electronics retailer Noel Leeming has been looking at expanding its focus on services this year. Now, it’s launched a dedicated after-purchase services division: MyTechSolution. The change also means that customers will be charged for access to Noel Leeming's helpdesk if the request goes beyond a "quick fix".

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Cameras aren’t just for security anymore

  • In Association with Axis Communications / Sektor
  • November 20, 2017
Cameras aren’t just for security anymore

In-store video cameras revolutionised loss prevention when they first became available to retailers, but as camera technology continues to evolve, they can now provide a plethora of data that supports better business decisions.

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Sale squared: Onceit talks deep discounts and sale events

  • News
  • November 20, 2017
  • Sarah Dunn
Sale squared: Onceit talks deep discounts and sale events

Kiwi high-end clearance ecommerce store Onceit works with more than 400 suppliers from New Zealand’s fashion, beauty and homewares industries to offload excess stock without brand damage. We had a chat with executive director Jay Goodey ahead of its once-yearly sale of sales.

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