Lululemon now expects full-year 2023 revenue between $9.44 billion and $9.51 billion, compared with $9.30 billion to $9.41 billion projected earlier. That drove net revenue up 24% to $2 billion in the quarter, beating estimates of $1.93 billion, according to Refinitiv IBES. The easing of China's strict COVID-19 curbs bolstered revenues from the region by 79%, while North America sales jumped 17%. It expects growth of about 20% at the end of the current quarter. Lululemon's inventories at quarter-end were up 24%, a smaller increase than the company had estimated in March. There's not many companies in retail that have had this solid track record of very strong growth in comps every quarter," said M Science analyst Matthew Jacob. Lululemon's crowd-favorite Dance Studio pants and new silhouettes such as flared and wide-leg leggings were also in vogue, along with accessories such as backpacks and duffle bags, McDonald added. Transactions increased from both existing and new customers, while traffic was also robust. "We've seen no change in our (customer) behavior in terms of frequency of purchase or engagement," Lululemon CEO Calvin McDonald said on a post-earnings call.
#FULL MOOM JULY 2022 FULL#
That, along with a higher-income customer base, has been a boon for companies such as Lululemon and Nordstrom Inc JWN.N. Read your guide to every full moon in 2022, from a transformative full moon in Scorpio to the total lunar eclipse in May, so you can prepare for the drama, sudden changes, and romantic predictions. The pandemic-era appetite for comfortable clothing and activewear has turned into a habit for most Americans. What’s more, this lunation is the brightest supermoon. June 1 (Reuters) - Lululemon Athletica Inc (LULU.O) raised its annual sales and profit forecasts on Thursday as wealthy Americans snap up its pricey activewear even though inflation hounds wider retail spending, sending the company's shares up 13% after hours.Ī strong rebound in China, easing air freight costs and tighter inventory control also helped first-quarter results surpass estimates at the Vancouver, Canada-based company. The July 2022 full moon is also known as the full Buck moon, reflecting the time of year when male deers' antlers are full-grown.
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