Aug 19, 2023

Lululemon Athletica Lifts FY Outlook After 2Q Beat

By Sabela Ojea

Lululemon Athletica raised its outlook for the year after seeing profit surge more-than-expected in the second quarter.

The yoga-pants maker guides for full-year revenue of $9.51 billion to $9.57 billion, up from a prior forecast for revenue of $9.44 billion to $9.51 billion.

Analysts surveyed by FactSet had forecast revenue of $9.5 billion for the year.

The company also expects to post earnings per share of $12.02 to $12.17 for the year, ahead of prior expectations in the range of $11.74 to $11.94. Analysts expect full-year earnings per share of $11.93.

For the third quarter, Lululemon expects revenue of $2.17 to $2.19 billion, declining from reported second-quarter revenue of $2.21 billion, but up from revenue of $1.86 billion a year ago.

Analysts polled by FactSet forecast third-quarter sales of $2.15 billion.

Write to Sabela Ojea at [email protected]; @sabelaojeaguix

Dow Jones Newswires is a market-moving financial and business news source, used by wealth managers, institutional investors and fintech platforms around the world to identify trading and investing opportunities, strengthen advisor-client relationships and build investor experiences. Learn More.