CEO Roland Smith will retire and Troy Rice will oversee e-commerce as Office Depot’s new chief operating officer.
Web sales account for 14% of overall sales.
Online sales, overall sales and net income all increased for yoga and athletic apparel retailer LuLuLemon Athletica Inc. in the third quarter.
For the quarter ended Oct. 28, LuLuLemon, No. 162 in the Internet Retailer Top 500 guide, reported:
- E-commerce revenue, which LuLuLemon calls direct-to-consumer revenue, increased 88.7% to $45.1 million from $23.9 million in the third quarter of 2011.
- Total sales increased year over year 37.5% to $316.5 million from $230.2 million.
- Comparable-store sales increased 18%.
- Net income increased 47.3% to $57.3 million from $38.9 million.
The web accounted for 14.2% of total sales compared with 10.4% in the third quarter of 2011.
“Throughout the first three quarters of fiscal 2012, we were able to grow our e-commerce business, which has further increased our brand awareness and has made our product available in new markets, including those outside of North America,” LuLuLemon says. “Continuing increases in traffic and conversion rates on our e-commerce web site lead us to believe that there is potential for our direct-to-consumer segment to become an increasingly substantial part of our business and we plan to continue to commit resources to further developing this channel.” In 2012, the company launched e-commerce sites for consumers in Australia, the United Kingdom and Hong Kong.
For the first three quarters:
- E-commerce revenue grew 111.7% to $119.0 million from $56.2 million in the first three quarters of 2011.
- Total sales increased year over year 40.6% to $884.9 million from $629.3 million.
- Comparable-store sales increased 19%.
- Net income increased 45.1% to $161.2 million from $111.1 million.
The web accounted for 13.4% of total sales compared with 8.9% in the first three quarters of 2011.