Lululemon Athletica (NASDAQ: LULU) reported a rise in revenues and revenue for the primary quarter of 2024. The athletic put on firm additionally issued steerage for the second quarter and FY24. First-quarter internet revenue elevated to $321.42 million or $2.54 per share from $290.41 million or $2.28 per share in the identical interval final yr. Gross revenue elevated 11% to $1.3 billion.
At $2.21 billion, April-quarter income was up 10% year-over-year on a reported foundation, and up 11% on a relentless forex foundation. There was a 6% development in comparable gross sales. Within the Americas area, gross sales rose 3%, whereas Worldwide gross sales jumped 35%.
For the second quarter, the corporate expects internet income to be within the vary of $2.40 billion to $2.42 billion. The forecast for earnings per share is $2.92-$2.97 for the July quarter. The administration continues to count on full-year 2024 income to be within the vary of $10.7 billion to $10.8 billion, and earnings between $14.27 per share and $14.47 per share.
Lululemon’s CEO Calvin McDonald commented, “Guests responded well to our product innovations across
categories, and we are pleased by the progress we are making to optimize our U.S. product assortment. Looking ahead, we continue to have a significant runway for growth and are confident in our team’s ability to powerfully deliver for our guests in 2024 and beyond.”
