Lululemon has grown its sales, in a year blighted by the departure of the athleisure-wear brand’s much-criticised CEO, and its search for a replacement.

Year-end net revenues of $8.1 billion for the 2025 fiscal year represented a 5 per cent increase from 2024, this growth was achieved through a 2 per cent increase in comparable sales. Elsewhere, gross profits stayed flat at $4.6 billion.

The brand has been looking for new leadership following the resignation of Calvin McDonald as CEO in December, who had been in post since 2018. McDonald was criticised by the company’s founder, Chip Wilson, who accused him of “erosion of premium brand value” of Lululemon following his departure.

Currently led by two interim co-CEOs, Lululemon has reflected positively on its financial performance for the year.

“As we begin our new fiscal year, we are focused on executing on our action plan, offering new and differentiated products to our guests, and elevating their experiences with Lululemon,” Meghan Frank, interim co-CEO and CFO, said.

The company’s sales in the Americas fell by 2 per cent, but international sales soared by 15 per cent in the year.

“Our teams are energized by the initial response to our recent product launches and continue to deliver successful guest activations globally,” André Maestrini, interim co-CEO, president, and CCO, added. 

Chip Wilson weighed in on the leadership search ahead of Lululemon’s earnings update. In a statement, he demanded better accountability between the company’s board and creative teams, putting forward his candidates for CEO.

“It is my belief shareholders will understand that the current leadership team, who are overseen by a board with no brand and product experience, is incapable of addressing the fundamental issue of being able to onboard brand and product leadership at the management and board level,” Wilson said.