Lululemon Athletica Inc
LULU
$190.01 3.49%
Exchange: NASDAQ | Sector: Consumer Cyclical | Industry: Apparel Retail
Q1 2024
Published: Jun 5, 2024

Earnings Highlights

  • Revenue of $2.21B up 10.4% year-over-year
  • EPS of $2.54 increased by 11.8% from previous year
  • Gross margin of 57.7%
  • Net income of 321.42M
  • "Our total revenue increased 10%, or 11% in constant currency. By region, we saw continued strong momentum in our international business with revenue in China Mainland up 52%." - Calvin McDonald, CEO
LULU
Lululemon Athletica Inc

Executive Summary

In Q1 2024, Lululemon Athletica Inc reported a robust 10% year-over-year revenue growth, reaching $2.21 billion, aided by strong international performance, particularly in the China market which saw a 52% increase. Earnings per share surged to $2.54, up from $2.28 in the same quarter last year. The company faced challenges in the U.S. market, particularly in the women's category due to a narrow color palette and stock shortages in smaller sizes. Management reiterated their commitment to rectifying these issues and emphasized confidence in future growth, backed by a strong product pipeline and increased brand engagement efforts.

Key Performance Indicators

Revenue
Increasing
2.21B
QoQ: -31.08% | YoY: 10.40%
Gross Profit
Increasing
1.28B
57.70% margin
QoQ: -33.01% | YoY: 10.80%
Operating Income
Increasing
461.90M
QoQ: -50.93% | YoY: 15.07%
Net Income
Increasing
321.42M
QoQ: -51.99% | YoY: 10.68%
EPS
Increasing
2.55
QoQ: -51.89% | YoY: 11.84%

Revenue Trend

Margin Analysis

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q3 2024 2,396.66 2.87 +8.7% View
Q2 2024 2,371.08 3.15 +7.3% View
Q1 2024 2,208.89 2.54 +10.4% View
Q4 2023 3,205.10 5.29 +15.6% View
Q3 2023 2,204.22 1.96 +18.7% View