lululemon (LULU) Gains on Q1 Earnings Beat, Raised FY24 EPS View

June 6, 2024

LULU reported first-quarter fiscal 2024 results, wherein revenues and earnings surpassed the Zacks Consensus Estimate and improved year over year. The results were driven by strong momentum in the international business as its products resonate well with customers. Innovative product offerings and progress on optimizing the U.S. product assortments also aided the results.

The company has been on track with the Power of Three X2 growth plan. LULU outlined the guidance for the fiscal second quarter. Moreover, it reiterated the revenue guidance but raised its EPS view for fiscal 2024.

Shares of lululemon gained 9.7% in the after-market trading session on Jun 5, mainly on strong first-quarter fiscal 2024 results and a solid international performance. The Zacks Rank #4 (Sell) company’s shares have lost 32.6% in the past three months compared with the industry’s decline of 17.3%. Yahoo Finance