Lululemon Athletica Inc., No. 83 in the Internet Retailer 2017 Top 500, reported an overall sales increase of 11%, boosted by a 42% jump in e-commerce sales for the fourth quarter. For 2017, direct-to-consumer revenues, largely from web sales, rose 27% to $575.7 million, helping to push stock up this week. The website redesign, launched in the third quarter, continues to “exceed expectations,” says chief operating officer and chief financial officer Stuart Haselden on the earnings call, according to a transcript posted by Seeking Alpha.
In the next year, the retailer plans to roll out its program for making online purchases available to pick up in store, while also expanding its ship-from-store program beyond the 186 locations currently offering it.
Hudson’s Bay Co. (No. 81) reported a 2.8% uptick in online sales across its brands for the quarter, accounting for about 70% of the Canadian company’s business according to chief financial officer Edward Record in an earnings call transcribed by Seeking Alpha. Internet Retailer estimates this puts Hudson’s Bay’s online sales at about $7.8 billion for 2017, converted from Canadian dollars at the time of publishing.
Excluding Gilt and focusing just on Hudson’s Bay’s department stores like Saks Fifth Avenue and Lord & Taylor, Hudson’s Bay online sales looked better, with a 9% increase in web revenue for Q4. However, other department store retailers had better holiday seasons: Macy’s (No. 6) web sales increased 11% in its fourth quarter, according to Internet Retailer’s estimates, while Kohl’s (No. 18) quarterly online sales rose 26%.Favorite