Lululemon sees sales and profit jump 18%, boosts full-year guidance
Publishing timestamp: 2023-08-31 16:33:24
Summary
Lululemon reported sales and profits that beat Wall Street's estimates. The company saw strong growth internationally, particularly in China, with a 61% revenue spike. Lululemon raised its full-year guidance and expects sales to be between $9.51 billion and $9.57 billion. The company is focused on expanding its brick-and-mortar footprint, doubling its men's and direct-to-consumer revenue, and addressing inventory levels. Overall, Lululemon's performance exceeded expectations and its gross margin was in line with analysts' predictions.
Sentiment: POSITIVE
Tickers: LULU,
Keywords: dividends, business news, breaking news: earnings, lululemon athletica inc, breaking news: business, china, apparel retail, retail industry, earnings, business,
Source: https://www.cnbc.com/2023/08/31/lululemon-lulu-earnings-q2-2023.html