Lululemon’s sales, earnings beat as digital business accelerates

Pedestrians carrying conserving masks stroll past a Lululemon retailer in San Francisco, California, on Monday, March 29, 2021.

David Paul Morris | Bloomberg | Getty Photos

Lululemon on Tuesday reported income and income for the shuttle quarter that topped analysts’ estimates, boosted by the athletic apparel maker’s on-line industry, and double-digit gross sales increase in every its ladies’s and males’s divisions.

It moreover supplied an upbeat outlook for gross sales in some unspecified time in the future of the contemporary quarter and the year, waiting for individual quiz for its sweat-wicking leggings and sports bras will proceed.

Its shares were up about 1% in afterhours shopping and selling.

Here’s how Lululemon did in some unspecified time in the future of the quarter ended Jan. 31 in contrast with what analysts were watching for, based fully totally on a poll by Refinitiv:

  • Earnings per fraction: $2.58 adjusted vs. $2.49 expected
  • Earnings: $1.73 billion vs. $1.66 billion expected

Lululemon reported earn earnings of $329.8 million, or $2.52 per fraction, in contrast with earn earnings of $298 million, or $2.28 per fraction, a year earlier. Other than one-time objects, the company earned $2.58 per fraction, better than the $2.49 expected by analysts.

Its income spiked roughly 24% to $1.73 billion from $1.4 billion a year earlier. That topped expectations for $1.66 billion.

Its on-line gross sales surged 92%, as many shoppers most neatly-favored staying build at dwelling and taking a look from the comfort of the sofa in some unspecified time in the future of the Covid pandemic. Girls folk’s gross sales were up 19%, and males’s grew 17% in some unspecified time in the future of the quarter, the company said.

In North The United States, income grew 21%, while world gross sales rose 47%.

Lululemon now expects first-quarter income to be in heaps of $1.10 billion to $1.13 billion, in contrast with analysts’ moderate estimate of $999.5 million, in accordance with Refinitiv.

“We are mute within the early innings of our increase, fueled by enchanting innovations,” CEO Calvin McDonald said in a assertion.

For fiscal 2021, the company is inquiring for income to be in heaps of $5.55 billion to $5.65 billion, in contrast with analysts’ moderate estimate of $5.42 billion.

Lululemon’s shares are down about 8% year up to now, as of Tuesday’s market shut. Lululemon has a market cap of $41.3 billion.

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