Lululemon Athletica Inc. reported impressive financial results for the third quarter of fiscal year 2024, surpassing market expectations and leading to a significant rise in its stock. The company’s revenue for Q3 reached $2.06 billion, marking a 23% increase year-over-year. Earnings per share (EPS) were reported at $1.87, outpacing analyst estimates of $1.77. The strong performance was attributed to increased demand for its innovative athleisure products, both in physical stores and online. As a result of this success, Lululemon has raised its full-year guidance, projecting revenues between $8.4 billion and $8.5 billion, up from the previous range of $8.2 billion to $8.3 billion. Lululemon CEO Calvin McDonald emphasized the importance of product innovation and customer experience in driving sales, stating, ‘Our continued investment in product allows us to connect with our guests in new and exciting ways.’ The company announced plans to hire more staff and expand its product offerings in response to growing demand. Lululemon’s strong Q3 performance and optimistic outlook reflect its resilience in a competitive retail landscape.
Lululemon Reports Strong Q3 Earnings, Boosts Full-Year Outlook
