Canadian retailer Lululemon Athletica (LULU) reported better-than-expected financial results
and raised its full-year forecast as consumer demand for its workout clothes remains strong.
Vancouver-based Lululemon forecast full-year sales in a range of $7.61 billion U.S. to $7.71
billion U.S., up from a prior forecast of $7.49 billion U.S. to $7.62 billion U.S.. Analysts were
looking for $7.54 billion U.S, according to Refinitiv data.
The company said it expects to earn between $9.35 U.S. and $9.50 U.S. a share, up from a
previous range of $9.15 U.S. to $9.35 U.S.
For this year’s first quarter, Lululemon reported earnings per share of $1.48 U.S. versus $1.43
U.S. that was expected by analysts. The company’s revenue came in at $1.61 billion U.S.
versus $1.53 billion U.S. that Wall Street was expecting.
Same-store sales, which track revenue online and at Lululemon retail outlets, rose 28% from the
previous year. Analysts had been looking for an increase of 20%.
Lululemon’s stock is down 22% year to date at $302.58 U.S. per share.
