Lulelemon Athletica Beats Third-Quarter Analyst Estimates
Dec 10, 2021 By MarketDepth
Lululemon Athletica (NASDAQ: LULU) topped third-quarter analyst estimates Thursday. Nevertheless shares fell over 2% during after hours as the company cut its sales expectations for Mirror, the at-home fitness company it acquired last year.
The company reported earnings of USD1.62 per share, compared to the expected USD1.41 a share. Revenue amounted to USD1.45 Billion, compared to analysts anticipated USD1.41 Billion. Furthermore, net income rose to USD187.8 Million from the previous year’s USD143.6 Million.
“Our third quarter results demonstrate the ongoing strength of lululemon and the tremendous growth potential of the business in both the near- and long-term. We are pleased with our early holiday season performance and how the lululemon brand continues to resonate in markets around the world. We are energized by the exciting opportunities ahead, and I’m proud of our teams across the globe for their passion and agility – I want to thank everyone for delivering a strong quarter.”Calvin McDonald, Chief Executive Officer
The fitness company’s same-store sales, which take into account sales from stores open a minimum of 12 months, shot up 32%. Meanwhile sales within North America were up 28% year over year and revenue shot up 40% internationally.
Holiday Shopping Up
Amid the holiday season, shoppers have been purchasing more athleisure apparel like leggings and sweatpants for themselves as well as gifts for others. McDonald revealed that Lululemon’s Thanksgiving Day online sales were its highest ever within a single day.
Lululemon’s shares have risen 20% throughout the year and currently has a market cap of almost USD52 Billion.