"Our brand momentum remains strong," the CEO told analysts.
However, he said the company will continue to invest in China, viewing the softened demand as a short-term challenge. Regarding China, which is still facing Covid-related restrictions in some regions, McDonald said that roughly one-third of Lululemon's 71 stores in the country were closed for a period of time in the latest quarter and into the second.
Women's sales grew 24% on a three-year basis, and men's grew 30% versus 2019 levels, the company said.įor the second quarter, Lululemon expects revenue to be in the range of $1.75 billion to $1.78 billion, topping analysts' expectations for $1.71 billion.Įxcluding the gain on the sale of an administrative office building, adjusted earnings per share are expected to be in the range of $1.82 to $1.87, ahead of analysts' expectations for $1.77. This dress features a square neckline, spaghetti straps, asymmetrical fit, ties in the back, ruched detailing along each side, and a fitted silhouette.Features: Self: 97 Cotton, 3 Spandex Lini. Analysts had been looking for an increase of 20.4%, according to StreetAccount estimates. Same-store sales, which track revenue online and at Lululemon stores open for at least 12 months, rose 28% from the prior year. Lululemon's revenue grew roughly 32% to $1.61 billion from $1.23 billion a year earlier. The retailer reported net income in its fiscal first quarter of $190 million, or $1.48 per share, compared with net income of $145 million, or $1.11 a share, a year earlier. Here's how Lululemon did in its fiscal first quarter compared with what Wall Street was expecting, based on Refinitiv data: Inspired by Lisas love of 1960s fashion, Lulu is a loose-fitting, slightly A-line shift dress and top with two sleeve lengths.11.00 to 17. Lululemon's shares were little changed during extended trading. Analysts were looking for per-share earnings of $9.28. The company expects to earn, on an adjusted basis, between $9.35 and $9.50 per share, up from a prior range of $9.15 to $9.35. They have mapped out exactly what dresses to wear for outside or inside weddings, all without upstaging the bride.
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