Lululemon results beat expectations, company raises guidance for the year
Pedestrians seen walking past Canadian athletic apparel retailer Lululemon in Shanghai.
Alex Tai | SOPA Images | LightRocket | Getty Images
Lululemon on Thursday reported fiscal-first quarter profit and revenue outpacing Wall Street’s expectations, boosted by growth online and in the retailer’s men’s division.
The athletic apparel retailer also raised its outlook for fiscal 2022, expecting the momentum in its business to continue in spite of broader economic headwinds.
Here’s how Lululemon did in its fiscal first quarter compared with what Wall Street was expecting, based on Refinitiv data:
- Earnings per share: $1.48 vs. $1.43 expected
- Revenue: $1.61 billion vs. $1.53 billion
Lululemon shares are down about 23% year to date.
This story is developing. Please check back for updates.
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This article was originally published by Cnbc.com. Read the original article here.