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- lululemon posts better-than-expected results
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- lululemon posts better-than-expected results
- Founded: 1998
- Headquarters: Vancouver, British Columbia, Canada
- Number of employees: 34,000 (2023)
- Industry: Sportswear
- Key people: Calvin McDonald (CEO), Glenn Murphy (chairman), Meghan Frank (CFO), Kristin Brady (CPO), Celeste Burgoyne (EVP, Americas)
- 1 month: +14.63%
- 3 months: +16.81%
- Year-to-date: +45.47%
- 1 year: +24.44%
- Raymond James: $495
- Truist Financial: $500
- TD Cowen: $545
- Evercore ISI: $540
- Wells Fargo: $445
- Citigroup: $520
- HSBC: $500
- Barclays: $480
- KeyCorp: $450
- UBS: $429
- Volatility never sleeps. Trade over earnings releases as they happen outside of main trading hours
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News & AnalysisNews & AnalysisWorld’s second largest sporting goods company, lululemon athletica inc. (NASDAQ: LULU), released Q3 2023 financial results after the closing bell on Wall Street on Thursday.
Company overview
The results
The Canadian company reported revenue that beat analyst estimates of $2.204 billion vs. $2.189 billion expected. Revenue was up by 19% year-over-year.
Earnings per share reported at $2.53 per share also beat analyst estimate of $2.282 per share for the quarter.
lululemon repurchased 0.6 million shares during Q3 at $210.8 billion and announced a further stock repurchase for up to $1 billion.
CEO commentary
“This was another strong quarter for lululemon as our innovative product offerings and community activations continued to powerfully resonate with our guests globally. As we enter the holiday season, we are pleased with our early performance and are well-positioned to deliver for our guests in the fourth quarter. I am energized by the significant opportunities ahead, and would like to thank our incredible teams around the world for their continued passion and commitment to our brand,” CEO of the company, Calvin McDonald said in a statement to investors.
Stock reaction
The stock was little changed at the end of the trading session on Thursday, up by 0.87% at $464.67.
Share price dropped by around 2% in the after-hours.
Stock performance
lululemon stock price targets
lululemon athletica inc. is the 280th largest company in the world with a market cap of $58.96 billion.
You can trade lululemon athletica inc. (NASDAQ: LULU) and many other stocks from the NYSE, NASDAQ, HKEX, ASX, LSE and DE with GO Markets as a Share CFD.
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Sources: lululemon athletica inc., TradingView, MarketWatch, MarketBeat, Benzinga, CompaniesMarketCap
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Disclaimer: Articles are from GO Markets analysts and contributors and are based on their independent analysis or personal experiences. Views, opinions or trading styles expressed are their own, and should not be taken as either representative of or shared by GO Markets. Advice, if any, is of a ‘general’ nature and not based on your personal objectives, financial situation or needs. Consider how appropriate the advice, if any, is to your objectives, financial situation and needs, before acting on the advice. If the advice relates to acquiring a particular financial product, you should obtain and consider the Product Disclosure Statement (PDS) and Financial Services Guide (FSG) for that product before making any decisions.
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