lululemon athletica inc. Announces First Quarter Fiscal 2024 Results Board of Directors Authorizes $1.0 Billion Increase in Its Stock Repurchase Program Revenue increased 10% to $2.2 billion Comparable sales increased 6%, or increased 7% on a constant dollar basis Diluted EPS of $2.54 VANCOUVER, British Columbia–(BUSINESS WIRE)–June 05, 2024– lululemon athletica inc. (NASDAQ:LULU) today announced financial results for the first quarter of fiscal 2024, which ended on April 28, 2024. Calvin McDonald, Chief Executive Officer, stated: “In the first quarter, we saw strong momentum in our international markets, demonstrating how our brand continues to resonate around the world. Guests responded well to our product innovations across categories, and we are pleased by the progress we are making to optimize our U.S. product assortment. Looking ahead, we continue to have a significant runway for growth and are confident in our team’s ability to powerfully deliver for our guests in 2024 and

Lululemon Athletica Inc (NASDAQ:LULU) reported first-quarter financial results Wednesday after the bell. Here’s a look at the key metrics from the quarter. Q1 Earnings: Lululemon reported first-quarter revenue of $2.21 billion, beating the consensus estimate of $2.2 billion, according to Benzinga Pro. The athleisure company reported quarterly earnings of $2.54 per share, beating analyst estimates of $2.39 per share. Total revenue was up 10% on a year-over-year basis and total comparable sales increased 6% year-over-year. Americas net revenue increased 3% year-over-year, while international revenue was up 35% year-over-year. Lululemon’s total store count was 711 at quarter’s end. Inventories were down 15% year-over-year. The company ended the quarter with $1.9 billion in cash and equivalents. Lululemon also said its board authorized a $1 billion increase to its stock repurchase program, bringing the total remaining amount under the buyback up to $1.7 billion. “In the first quarter, we saw strong momentum in

By Sabela Ojea Lululemon Athletica said revenue rose in the latest quarter boosted by its presence in the Chinese market amid a slowdown in growth in the Americas. The yoga pants maker on Wednesday posted a profit of $321.4 million, or $2.54 a share, compared with $290.4 million, or $2.28 a share, for the same period a year earlier. Analysts surveyed by FactSet had forecast earnings per share of $2.41. Revenue rose to $2.21 billion from $2 billion, slightly beating the $2.2 billion expected by Wall Street, according to FactSet. In the Americas region, Lululemon saw revenue growth of 3%, down from a 9% increase in the fourth quarter. “Guests responded well to our product innovations across categories, and we are pleased by the progress we are making to optimize our U.S. product assortment,” Chief Executive Calvin McDonald said. Lululemon’s international revenue jumped 35%, mainly boosted by its performance in

Lululemon Athletica (LULU) late Wednesday reported stronger-than-expected fiscal first-quarter results while the athletic apparel and footwear company lifted its full-year earnings outlook. Earnings advanced to $2.54 a share during the quarter through April 28 from $2.28 the year before, surpassing the Capital IQ-polled GAAP consensus of $2.42. Revenue increased 10% to $2.21 billion, just above analysts’ $2.2 billion estimate. Lululemon’s Nasdaq-listed stock was rallying 13% in after-hours trade. Comparable sales increased 6%, driven by a 25% jump in international operations. The consensus was for a 6.5% headline rise. Lululemon expects full-year EPS of $14.27 to $14.47, compared with $14 to $14.20 previously projected. The company continues to expect revenue of $10.7 billion to $10.8 billion. Analysts are forecasting GAAP EPS of $14.18 and sales of $10.76 billion. For the fiscal second quarter, the company expects EPS of $2.92 to $2.97 on revenue between $2.4 billion to $2.42 billion. The Street

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Lululemon’s performance in the U.S. dragged down the yoga maker’s results in the latest quarter, leading to what CEO Calvin McDonald calls a slower start to the year. Several internal factors hit Lululemon’s results, including a missed opportunity in women’s and bags, which the company’s actively addressing, McDonald says. Operating in a choppy U.S. consumer environment didn’t help, McDonald says. When looking at women’s, the company should have stopped focusing as much in leggings. These comments come as competitors Alo Yoga and Vuori focus on wide-leg bottoms that come with pockets. Shares rise 11% to $341.52 after hours.