LULU Earnings Report: Lululemon Q2 2024 Shows Positive Trends Amid Inflation
Lululemon Q2 2024 Results
Lululemon Athletica (NASDAQ: LULU) reported impressive results for the second quarter of 2024, illustrating a consistent trend of growth. The company's profit increased significantly, reaching $392.9 million, or $3.15 per share, compared to $341.6 million or $2.68 per share in the previous year. Revenue also saw a notable rise, amounting to $2.37 billion, representing a 7% increase year-over-year.
Financial Metrics and Future Outlook
- Gross Profit: Rose by 9% to $1.4 billion.
- Comparable Sales: Increased by 2%, or 3% on a constant dollar basis.
- For the full fiscal year 2024, Lululemon projects revenue between $10.38 billion to $10.48 billion, indicating growth of 8% to 9%.
- Earnings per Share: Expected between $13.95 and $14.15, based on a tax rate of approximately 30%.
CEO Calvin McDonald emphasized the company's strategy to enhance product assortment in the U.S. “We feel confident in the long runway in front of us,” he stated, showcasing Lululemon's focus on sustainable growth and operational efficiency.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.