Lululemon Ups Guidance After ‘Strong’ Growth in China Boosts Quarterly Sales
September 1, 2023
Lululemon reported an 18% increase in both sales and profit for its fiscal second quarter, boosted by a 61% revenue spike in China. The athletic apparel retailer raised its full-year guidance, now expecting sales to be between $9.51 billion and $9.57 billion for the fiscal year, and profits to be between $12.02 to $12.17 per share. While sales growth in markets outside of North America surged by 52%, same-store sales globally fell short of expectations, being up 11% in the quarter compared to an estimated 12.1%.
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