lululemon beats earnings and revenue expectations, raises outlook, stock surges 9%

From Nasdaq: 2024-12-06 15:00:00

lululemon athletica inc. (LULU) exceeded revenue and earnings expectations in their third-quarter fiscal 2024 results. The company saw a 13.4% increase in earnings per share compared to the prior-year quarter, surpassing estimates. The stock surged 9.2% in after-hours trading following the strong performance and raised guidance for fiscal 2024.

In the fiscal third quarter, lululemon reported a 8.7% year-over-year increase in revenues to $2.397 billion. Total comparable sales rose by 4%, with a 2% increase in the Americas and a 33% increase internationally. The company’s gross profit improved by 9%, and the gross margin expanded by 40 basis points to 58.5%.

Looking ahead, lululemon anticipates continued growth in the fourth quarter and fiscal 2024. The company raised its revenue and earnings forecasts for both periods. For the fourth quarter, net revenues are expected to be $3.475-$3.51 billion, with an EPS of $5.56-$5.64. For fiscal 2024, net revenues are projected to be $10.452-$10.487 billion, with an EPS of $14.08-$14.16, reflecting significant growth from previous years.

In addition to lululemon, other notable stocks in the textile and apparel industry include Gildan Activewear (GIL), Hanesbrands (HBI), and Ralph Lauren (RL). These companies have shown positive growth trends and are ranked favorably. Gildan Activewear and Hanesbrands have seen significant earnings growth, while Ralph Lauren anticipates growth in sales and EPS for the current fiscal year.



Read more at Nasdaq: lululemon Shares Rally 9% on Q3 Earnings & Revenue Beat, Raised View