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%.
Recent News
Kentucky Derby Celebration Spots in Las Vegas and Goldbelly Home Delivery
Las Vegas, though miles away from Louisville, gears up for the Kentucky Derby with a range of special offerings. From viewing parties to themed cocktails, the city joins the celebration of the sesquicentennial Run for the Roses. If you’re a resident of Kentucky, you can get Ready for the Kentucky Derby with Goldbelly.
New Nintendo Theme Park to Open in Orlando
It’s set to open in 2025.
Novo Noradisk Announces $6B Investment in Ozempic, Wegovy Amid Shortages
The money will help meet increased demand for the drugs.
EV Battery Tax Credit Rules Change in the US
The U.S. government has made some tweaks to electric vehicle (EV) tax credits, possibly paving the way for more EVs to qualify for credits of up to $7,500. These tax credits range from $3,750 to $7,500 for new EVs, with a $4,000 credit available for used ones.