Latest News

Lululemon shares surge on earnings, revenue beat as shoppers keep spending on workout apparel


A Lululemon Athletica store in Pasadena, California.

Getty Images

Lululemon shares jumped nearly 9% in extended trading Wednesday after the athletic apparel maker reported fiscal second-quarter profit and revenue that topped analysts’ expectations.

The retailer also offered a better-than-expected outlook for the third quarter and for the year.

Here’s how the company did compared with what Wall Street was expecting, using a Refinitiv survey of analysts:

  • Earnings per share: $1.65 adjusted vs. $1.19 expected
  • Revenue: $1.45 billion vs. $1.34 billion expected

Net income for the three-month period ended Aug. 30 rose to $208.1 million, or $1.59 per share. That’s up from $86.8 million, or 66 cents per share, a year earlier. Excluding one-time items, the company earned $1.65 per share. That’s better than the $1.19 that analysts polled by Refinitiv had been looking for.

Revenue rose 61% to $1.45 billon from $902.9 million in the year-ago period. That was ahead of expectations for $1.34 billion.

Sales in North America rose 63% year over year and were up 49% internationally.

Lululemon shares are up about 9% year to date. Recently, the stock has traded down from an all-time-high of $417.85, which it hit late last month. Lululemon’s market cap is nearly $50 billion.

Find the full earnings press release from Lululemon here.

This story is breaking news. Please check back for updates.

Biden Administration outlines how solar could be nearly half of electricity supply by 2050

Previous article

Rocket Lab signs five-launch deal with European Internet of Things satellite company Kineis

Next article

You may also like


Leave a reply

Your email address will not be published. Required fields are marked *

More in Latest News