Lululemon Athletica Inc

Latest Results (07.08.2024):

Revenue Growth

Lululemon Athletica Inc. reported a 10% increase in net revenue for the first quarter of fiscal 2024, reaching $2.2 billion. On a constant dollar basis, this represents an 11% increase. The growth was driven by strong performance in international markets, which saw a 35% increase in net revenue, or 40% on a constant dollar basis.

Comparable Sales

For the first quarter of fiscal 2024, Lululemon Athletica Inc. experienced a 6% increase in comparable sales, or 7% on a constant dollar basis. While comparable sales in the Americas remained flat, international comparable sales surged by 25%, or 29% on a constant dollar basis, highlighting the brand's growing global appeal.

Earnings Per Share

Lululemon Athletica Inc. reported diluted earnings per share (EPS) of $2.54 for the first quarter of fiscal 2024, compared to $2.28 in the same quarter of the previous year. This increase in EPS reflects the company's strong financial performance and effective cost management strategies.

Stock Repurchase Program

During the first quarter of fiscal 2024, Lululemon Athletica Inc. repurchased 0.8 million shares of its common stock for a total cost of $296.9 million. Additionally, the board of directors approved a $1.0 billion increase to the company's stock repurchase program, bringing the total remaining authorization to approximately $1.7 billion as of June 5, 2024.

2024 Outlook

For the second quarter of fiscal 2024, Lululemon Athletica Inc. expects net revenue to be in the range of $2.400 billion to $2.420 billion, representing growth of 9% to 10%. The company also anticipates diluted earnings per share to be between $2.92 and $2.97. For the full fiscal year 2024, net revenue is projected to be between $10.700 billion and $10.800 billion, with diluted earnings per share expected to range from $14.27 to $14.47.