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.
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
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
Infographic: Amazon (AMZN) Q4 2024 earnings beat estimates; sales rise 10%
E-commerce giant Amazon.com Inc. (NASDAQ: AMZN) on Thursday reported higher sales and profit for the fourth quarter of 2024. Earnings also beat analysts' estimates. Net sales increased to $187.8 billion
Philip Morris (PM) delivers strong performance in 4Q24 helped by smoke-free strength
Shares of Philip Morris International Inc. (NYSE: PM) jumped 10% on Thursday after the company delivered better-than-expected earnings results for the fourth quarter of 2024 and provided an encouraging outlook
Highlights of Bristol-Myers Squibb’s Q4 2024 earnings report
Biotechnology company Bristol Myers Squibb (NYSE: BMY) reported lower profit for the fourth quarter of 2024, despite an increase in revenue. Net income attributable to shareholders was $72 million or