Nike and adidas need to be careful! Sports brand's biggest dark horse sales jump more than 20% in third quarter
，据时尚商业快讯数据，在截至11月3日的3个月内，加拿大瑜伽运动服饰品牌lululemon销售额同比大涨22.5%至9.16亿美元，高于分析师预期，已连续10个季度录得双位数的强劲增幅，毛利率为55.1%，营业利润大涨29%至1.76亿美元。 China Shoes Net, December 17. According to fashion business news data, in the three months ending November 3, Canadian yoga sportswear brand lululemon's sales rose 22.5% year-on-year to $ 916 million, higher than analysts' expectations. It has recorded a strong double-digit growth rate for 10 consecutive quarters, with a gross profit margin of 55.1% and operating profit soaring 29% to $ 176 million. In the first nine months of this year, lululemon sales surged 21.7% to $ 2.581 billion.
During the reporting period, sales of men's clothing, e-commerce business and international markets became the main driving force for lululemon's performance growth. Men's clothing sales rose 38% in the third quarter, while core women's clothing sales rose 20%. E-commerce Channel sales surged 30%, revenue from the international market surged 35%, and brand sales in the North American domestic market surged 21%.
As of the end of the reporting period, lululemon has a total of 479 stores worldwide, with a net increase of 19 plus stores in the third quarter. In July this year, the brand opened the world's largest flagship store in Chicago, USA, with three floors, namely women's clothing, men's clothing and sports areas. , With an area of 20,000 square feet.
Taken together, lululemon is still in a rising phase. CEO Calvin McDonald said in the financial statement that the continued growth in performance is mainly due to the brand's stable and reliable connections with consumers around the world, and the transformation plan he proposed after taking office is gradually taking effect.
Calvin McDonald was appointed chief executive of lululemon in July last year. After taking office, he promoted Sun Choe as chief product officer, starting with products to develop new opportunities for brands. Sun Choe has worked in many fashion brands such as Marc Jacobs, Urban Outfitters and Madewell, and has extensive relevant experience and a keen sense of fashion. You need to know that in 2017, lululemon was named one of the coolest and most unknown fashion brands by the American Gen Z.
In April of this year, lululemon held the first shareholders' meeting since listing, announced a new strategic plan, decided to expand the brand by expanding into the personal care and men's clothing field, and plans to expand the men's clothing and digital business scale in the next 5 years. Doubled, sales in the international market doubled.
In order to better grasp the high-end consumers, lululemon launched a new luxury brand Lab in September. The new series has 44 apparels, and the unit price is between $ 80 and $ 500, mainly on the lululemon official website and 45 stores in North America, Europe and Asia. Available in stores. According to lululemon, Lab's design is based on minimalism, including men's clothing, women's clothing and a small number of unisex clothing. The tailoring is more relaxed and simple than lululemon.
In addition, lululemon has implemented a paid membership service program since this year to further strengthen the connection between brands and consumers. The annual fee for this membership plan is initially set at $ 128. After paying the membership fee, members can not only choose to get a pair of yoga pants for free or participate in fitness courses and activities organized by the brand. They can also enjoy free shopping on the online platform. Mail service.
Although Lululemon founder Chip Wilson questioned Calvin McDonald's move in October last year, and hoped to regain control of the brand, it turned out that lululemon, under the leadership of Calvin McDonald, continued to strengthen the moat on the existing foundation. Gradually grow into the largest dark horse in the global sportswear industry.
Cowen analyst John Kernan pointed out in a latest report that the development of lululemon is more similar to Nike's previous growth path, thanks to the strategic layout of new products, integrated marketing and online business, and the high level of brand consumers In terms of loyalty, lululemon's growth, permanence, and return on capital investment structure are closer to those of Nike. If lululemon can maintain a free cash flow price-to-earnings ratio similar to Nike, the market value is expected to rise to $ 40 billion.
Mark Tepper, president of wealth management agency Strategic Wealth Partners, emphasized earlier that lululemon has the ability to withstand the downturn in the retail market and that the brand has the most loyal consumer group in the industry. Jane Hali & Associates analyst Jessica Ramirez believes that if consumers don't want to get bored, brands need to maintain their excitement, which means a constant investment in innovation and creativity.
According to data from Grand View Research, the global sports and leisure market size was USD 300 billion in 2018, mainly driven by changes in consumer health awareness and the increasingly casual workplace dress code. The report emphasizes that leisure sports have become one of the major trends in the fashion industry.
However, given that affordable retailers such as H & M, Target, and Amazon have begun to extend their tentacles into the field of sportswear, Nike launched the first collection of this year's men's yoga wear market. Adidas also collaborated with Beyonc¨¦'s personal brand, which specializes in sports and leisure apparel. Coming into the market in January next year, Lululemon Chief Financial Officer Patrick Guido admitted during the earnings call that the brand has felt significant pressure and will have to invest in the development of new sports bras and accessories to keep up with investor growth expectations.
Lululemon's children's clothing brand Ivivva plans to close the remaining seven brand stores by mid-2020, replaying its resources in menswear and international business. Ivivva was founded in 2009. The target consumer is girls between 6 and 12 years old, mainly sportswear. Due to the continuous decline in performance, lululemon has closed nearly 50 stores of the brand in 2017.
It is worth noting that lululemon announced on Monday that Chief Operating Officer and Executive Vice President Stuart Haselden will officially leave on January 10th. Chief Technology Officer Julie Averill and Chief Supply Chain Officer Ted Dagnese were promoted to the lululemon senior leadership team, directly to Calvin McDonald report.
For the fourth quarter of fiscal 2019, lululemon expects revenue for the fourth quarter of fiscal 2019 to be between $ 1.315 billion and $ 1.33 billion, with earnings per share between $ 2.10 and $ 2.13, while analysts expect an average of $ 2.13. Annual revenue is expected to be between $ 3.895 billion and $ 3.91 billion, and earnings per share will be between $ 4.75 and $ 4.78.
Although more conservative expectations have caused a slight panic among investors, lululemon's stock price has plummeted nearly 5% after the market, but the cumulative increase since this year has reached 90%, far exceeding competitors such as Nike, adidas and Under Armour, as of Wednesday's close Has a market value of approximately $ 30.3 billion, a record high.
[China Shoes Net-News Analysis] On December 19th, Nike released the latest quarterly report as of November 30th. Nike's report card surpassed market expectations. Quarterly report shows that Nike earns revenue from September to November ...[detailed]
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