Lululemon

Things are looking up for yogawear retailer Lululemon Athletica Inc., which reported a large increase in revenue from online sales in the first quarter.

Our cover story this month is about one of my favorite topics: hot retail concepts. It’s a subject that, to my mind, never goes out of style because it speaks as much to the essence of retail in today’s omnichannel age as it did in the purely physical one.

New concepts remain the lifeblood of retailing, and it’s always exciting to recognize and call attention to them. And I’m happy to report that the industry seems to be particularly rich in new formats these days.

Vancouver -- Lululemon Athletica Inc. is apparently back on track, reporting better-than-expected results for the fourth quarter amid increased traffic. On the company’s quarterly conference call, executives said the retailer hopes to post double-digit square footage growth for the United States and Canada in its current fiscal year, in addition to continuing to grow its brand overseas.

Shoppers had a hankering for more yogawear during the holidays, as retailer Lululemon saw better-than-expected traffic and results for the fourth quarter.

Net revenue for the quarter increased 16% to $602.5 million from $521 million in the fourth quarter of fiscal 2013. Same store sales increased by 8% for the fourth quarter.

Lululemon Athletica Inc. will have to get along without the advice of its controversial founder, who announced he is stepping down from the company's board.

Chip Wilson, a sometimes controversial figure who helped build the Canadian yogawear retailer into an international success story, said he was resigning from the company's board.

"I believe that now is the right time to step away," Wilson said in a statement.

Wilson, who founded Lululemon in 1998, withdrew from day-to-day management in early 2012, and stepped down as chairman in late 2013.

Vancouver – Dennis “Chip” Wilson, founder of Lululemon Athletica inc. is stepping down from Lululemon's board of directors. Wilson, who founded Lululemon in 1998, led the company through many business cycles as he expanded it from a small storefront in Vancouver to an international brand with over 250 stores.

Los Angeles -- Millennial fashion authority and online retailer Nasty Gal has tapped Sheree Waterson has CEO, effective immediately. Waterson, promoted from her position as president and chief product officer, which she has held since early 2014, previously was lululemon athletica’s executive VP and chief product officer.

Founder Sophia Amoruso will continue as executive chairman to oversee creative and brand marketing functions.