Lululemon shares jump as holiday-quarter sales surge
Publishing timestamp: 2023-03-29 08:42:49
Summary
Lululemon reported strong sales for the holiday quarter, beating Wall Street's expectations and issuing upbeat guidance for its new fiscal year. The company's fourth-quarter net income fell compared to the previous year, but excluding certain charges, earnings per share were higher than expected. Lululemon's total comparable sales for the quarter increased by 27%, and the company expects fiscal 2023 revenue and full-year profit to exceed Refinitiv estimates. Shares of Lululemon jumped about 14% in premarket trading following the earnings report.
Sentiment: POSITIVE
Tickers: LULU,
Keywords: business, business news, lululemon athletica inc, earnings, apparel retail, retail industry,
Source: https://www.cnbc.com/2023/03/28/lululemon-shares-jump-as-holiday-quarter-sales-surge.html