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“Lululemon shares pop 10% despite lackluster earnings report and guidance”

“…Here is how Lululemon did in its first fiscal quarter compared to what Wall Street was anticipating, based on a survey of analysts by LSEG:

  • Earnings per share: $2.54 vs. $2.38 expected
  • Revenue: $2.21 billion vs. $2.19 billion expected

Despite the tepid growth, Lululemon’s stock jumped 10% in extended trading Wednesday. The company also announced it would add $1 billion to its stock buyback program.

The company’s reported net income for the three-month period that ended April 28 was $321 million, or $2.54 per share, compared to $290 million, or $2.28 per share, a year earlier. Sales rose to $2.21 billion, up about 10% from $2 billion a year earlier…”

https://www.cnbc.com/2024/06/05/lululemon-lulu-earnings-q1-2024.html

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