From CNBC: 2024-12-05 16:28:25

Lululemon’s U.S. growth is slowing, but international sales are up 9%, beating Wall Street’s expectations. Quarterly earnings per share were $2.87 vs. $2.69 expected, revenue hit $2.40 billion vs. $2.36 billion expected. The company’s holiday quarter revenue forecast is between $3.48 billion and $3.51 billion.

Despite challenges, Lululemon is focusing on growth in China and international markets. Comparable sales grew 4% company-wide, with a 25% increase internationally. Self-inflicted challenges include product launch missteps and inventory issues in the U.S. CEO Calvin McDonald insists the brand remains strong despite recent setbacks.

To navigate uncertainties, Lululemon is focusing on profitability and stock buybacks. Gross margin grew to 58.5%, exceeding analyst expectations. The company approved a $1 billion increase in its stock repurchase program, with $1.8 billion remaining. Amid competitive pressures, Lululemon aims to maintain growth and profitability.



Read more at CNBC:: Lululemon (LULU) earnings Q3 2024