Categories AlphaGraphs, Consumer, Earnings

LULU Earnings: Lululemon reports higher sales and profit for Q1 2024

Lululemon Athletica (NASDAQ: LULU) reported an increase in revenues and profit for the first quarter of 2024. The athletic wear company also issued guidance for the second quarter and FY24. First-quarter net income increased to $321.42 million or $2.54 per share from $290.41 million or $2.28 per share in the same period last year. Gross profit increased 11% to $1.3 billion.

Lululemon Athletica Gross Profit Trend

At $2.21 billion, April-quarter revenue was up 10% year-over-year on a reported basis, and up 11% on a constant currency basis. There was a 6% growth in comparable sales. In the Americas region, sales rose 3%, while International sales jumped 35%.

For the second quarter, the company expects net revenue to be in the range of $2.40 billion to $2.42 billion. The forecast for earnings per share is $2.92-$2.97 for the July quarter. The management continues to expect full-year 2024 revenue to be in the range of $10.7 billion to $10.8 billion, and earnings between $14.27 per share and $14.47 per share.

Lululemon’s CEO Calvin McDonald commented, “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 beyond.”

Prior Performance

  • Lululemon Athletica Gross Profit Trend
  • Lululemon Athletica Gross Profit Trend

Listen to the conference calls as they happen. Don't miss a beat! With AlphaStreet Intelligence, you can listen to live calls and interviews as they happen, so you never have to worry about missing out on important information.

Most Popular

WBA Earnings Preview: Will Walgreens’ Q3 report bring cheer to investors?

Walgreens Boots Alliance, Inc. (NASDAQ: WBA) has been facing challenges due to higher operating costs, rising competition, and an unfavorable retail environment. These factors have put pressure on the drugstore

Main points from Accenture’s (ACN) Q3 2024 earnings report

Shares of Accenture (NYSE: ACN) rose 6% on Thursday, following the company’s announcement of its third-quarter 2024 earnings results. Although revenue and profits missed expectations, the stock jumped after the

ACB Earnings: Aurora Cannabis reports narrower Q4 loss on higher revenues

Aurora Cannabis, Inc. (NASDAQ: ACB) on Thursday reported a net loss for the fourth quarter of 2024. The company’s revenues moved up 5% year-over-year during the quarter. The Canada-based recreational

Add Comment
Viewing Highlight