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Lululemon Stock Gains on Signs of Improvement in Q3


Published on 2024-12-05 18:30:49 - MSN
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  • Shares were up 10.5 percent in after-hours trading as the active brand appeared to find more of its footing in the U.S.

Lululemon Athletica Inc. experienced a stock price increase following the release of their third-quarter earnings, which showed signs of improvement. The company reported a 19% year-over-year revenue growth, reaching $2.2 billion, surpassing Wall Street expectations. This growth was driven by a 12% increase in comparable store sales and a significant boost in international markets, particularly in China where sales surged by 61%. Despite a slight dip in gross margins due to increased costs, Lululemon's earnings per share came in at $2.53, beating the consensus estimate of $2.28. The company also raised its full-year guidance, reflecting confidence in continued growth, although it noted challenges like increased competition and economic uncertainties. The positive earnings report and forward-looking statements contributed to the stock's upward movement.

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