Lululemon’s SHOCKING $2.2 Billion Q2 Revenues – Is This the Hottest Stock of 2023? 💰📈
- Lululemon Athletica has disclosed its Q2 2023 revenue, which stands at around $2.2 billion, reflecting a notable 18% growth compared to the corresponding period in the previous year.
- The earnings per share (EPS) for the quarter amount to $2.68, exceeding the projected value of $2.54 as anticipated by analysts.
The shares of LULU experienced a 1.20% increase during trading on Thursday, followed by an additional gain of 1.51% in after-hours trading. As a result, the year-to-date performance of LULU has seen a cumulative increase of around 19%.
- During the second quarter, there was a significant increase in revenue, with North America experiencing notable growth of 11% and international markets witnessing a substantial surge of 52%.
- The data reveals a notable 7% growth in comparable store sales, accompanied by a substantial 15% jump in direct-to-consumer net revenue.
- The success of Lululemon, as stated by its CEO Calvin McDonald, may be attributed to the company’s expansion into new regions and the strong loyalty of its customer base.
- The gross profits achieved during the quarter amount to $1.3 billion, reflecting a year-on-year increase of 23%. Furthermore, a total of $191.7 million was allocated to shareholders through the implementation of a share repurchase initiative.
- The organization foresees a sustained increase in revenue, culminating in the conclusion of the quarter with a total of 672 establishments and significant financial resources.
- Lululemon anticipates a sales range of $2.165 billion to $2.190 billion for the third quarter of 2023, reflecting a growth rate of approximately 17-18%.
- Furthermore, the company expects its earnings per share (EPS) to fall within the range of $2.23 to $2.28.
- The projected annual revenue for the fiscal year is estimated to be between $9.510 billion and $9.570 billion, indicating a growth rate of approximately 17-18%.