Categories AlphaGraphs, Consumer, Earnings

LULU Earnings: A snapshot of Lululemon Athletica’s Q2 2023 financial results

Athletic wear company Lululemon Athletica (NASDAQ: LULU) reported strong earnings and revenue growth for the second quarter of 2023. The company also provided guidance for the third quarter.

Lululemon Athletica Gross Profit Trend

At $2.2 billion, second-quarter revenues were up 18% from last year. Sales rose 11% in North America and climbed 52% in the rest of the world. The positive outcome reflects an 11% increase in comparable sales and a 15% growth in direct-to-customer revenues.

Reflecting the strong revenue growth, the company’s net income increased to $341.6 million or $2.68 per share in the July quarter from $289.5 million or $2.26 per share a year earlier.

For the third quarter, the management is looking for revenues in the range of $2.165 billion to $2.190 billion, representing a 17-18% growth. On a per-share basis, net income is expected to be in the range of $2.23 to $2.28. Full-year revenue is estimated in the range of $9.51 billion to $9.570 billion, representing growth of 17% to 18%. The earnings-per-share forecast for 2023 is $12.02-$12.17.

Lululemon’s CEO Calvin McDonald said, “Our Q2 results highlight the ongoing strength of the business amid a dynamic operating environment. I am proud of how our teams continue to deliver on our vision and offer an exciting pipeline of new products and experiences to our guests around the world.”

Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!

Most Popular

NKE Earnings Preview: Nike likely to report mixed Q1 results

Nike, Inc. (NYSE: NKE) ended fiscal 2023 on an unimpressive note, reporting weaker-than-expected earnings for the final months of the year when the sneaker giant’s revenues increased modestly. The company's

KB Home (KBH): A look at how the homebuilder fared in its most recent quarter

Shares of KB Home (NYSE: KBH) were down on Friday. The stock has gained 43% year-to-date and 68% over the past 12 months. The homebuilder delivered better-than-expected results for the

UnitedHealth Group (UNH) looks unfazed by short-term challenges

Healthcare conglomerate UnitedHealth Group (NYSE: UNH) has a good track record of effectively navigating challenges. The company's diversified offerings help it deliver consistent revenue and profit growth. Recently, profitability came

Add Comment
Viewing Highlight