Home https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Business https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ People can’t stop buying leggings. That is good news for Lululemon and Athleta

People can’t stop buying leggings. That is good news for Lululemon and Athleta



Consumers exchange jeans and manage for yoga pants, sweat and shorts as they work from home and spend more free time there.

That’s great news for athlete sellers, casual clothing designed for workout and everyday wear.

Despite the temporary closure of stores due to the pandemic, Lululemon said on Tuesday that sales rose 2% to $ 903 million in the quarter ending August 2, compared to the same period last year. Lululemon (LULU) was able to compensate for the temporary closure of online sales, which grew by 157% in the last quarter.

“We are seeing a change in behavior in terms of working from home, sweating from home and increasing the importance of living an active and healthy lifestyle. These trends match our vitality,”

; he said. CEO Calvin McDonald in a call to analysts.

Strong women’s sales are driven by different styles of shorts, the company said. It said its shorter inseam bike shorts were “very good.”

Overall clothing sales declined 34% from March to July from last year, including a more dramatic fall in suits and menswear, sales of shorts, sweatpants and sports bras that rose along that, according to market research firm NPD Group.

The retailer of this discount crushed it during the pandemic

“Consumers are inclined to more than one active home lifestyle and use active clothing for everyday purposes, which does not always include exercise,” said Maria Rugolo, an analyst at NPD Group.

These changes have shattered some retail chains, such as Brooks Brothers, Neiman Marcus, J. Crew and Men’s Warehouse parent Tailored Brands. All four filed for losses during the pandemic.

But there is another winner.

Athleta, the brand of athleisure in Gap (GPS), saw a 6% increase in sales in the most recent quarter, despite Gap’s sales fall. PVH (PVH), the parent of Tommy Hilfiger and Calvin Klein, said athleisure clothing was one of the strongest sellers in the latest quarter. At Dick’s Sports Games (DKS) Consumers say gravitating to Athletic attire.

“There has been a greater shift towards athletic attire and active lifestyle [products] to people who spend more time working and exercising at home, “Dick CEO Ed Stack said in a call to analysts last month.

Retail analysts predict the shift to athleisure will continue to grow, and take advantage of companies like Lululemon.

“We expect an accelerated consumer gravitation towards fitness [and] wellness apparel, “Jefferies analyst Randal Konik said in a research note on Tuesday.” We saw [Lululemon] emerged even stronger. “


Source link