Web sales grow 90% for LuLuLemon in Q2

Web sales raced ahead for LuluLemon in Q2 2012.

The second quarter was another good one online and otherwise for athletic apparel maker and retailer LuLuLemon Athletica Inc.

For the second quarter ended July 29, LuLuLemon, No. 162 in the Internet Retailer Top 500 reports:

• E-commerce revenue, which LuLuLemon calls direct-to-consumer revenue, grew 90.3% to $35.4 million from $18.6 million in the second quarter of 2011.
• Total sales increased year over year 33.1% to $282.6 million from $212.3 million.
• Comparable-store sales increased 15%.
• Net income increased 49.5% to $57.7 million from $38.6 million.

The web accounted for 12.5% of total sales compared with 8.8% in the second quarter of 2011.

The company predicts strong growth for its e-commerce channel, chief financial officer John Currie told analysts on the company’s second quarter earnings call. “Going forward, the fourth quarter will be the strongest in terms of e-commerce penetration,” Currie told analysts. “We're still looking at e-commerce rising from last year when it was about 11% of total sales. We expect it to be between 14% and 15% of overall revenue this year.”

For the first two quarters:

• E-commerce revenue grew 128.1% to $73.9 million from $32.4 million in the first two quarters of 2011.
• Total sales increased year over year 42.4% to $568.3 million from $399.1 million.
• Comparable-store sales increased 20%.
• Net income increased 45.2% to $104.7 million from $72.1 million.

The web accounted for 13.0% of total sales compared with 8.1% in the first two quarters of 2011.