LULU Stock Gained 6% After Lululemon Athletica Posted Q1 2022 Fiscal Results – Cryptovibes.com – Daily Cryptocurrency and FX News

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Lululemon Athletica said its gross profit grew by 24 percent to $870.4 million, meanwhile, its gross margin fell 320 basis points to 53.9%.

Lululemon Athletica Inc (NASDAQ: LULU) stock closed June 2 trading at $302.58, a 4.35 percent boost from the day’s opening price. The profits climbed 6% during the after-hours trading period. Whereby shares of LULU traded about $309 from June 2, 7:59 pm EDT. The jump in volatility on Thursday was pushed by the first quarter fiscal 2022 earnings results announced by Lululemon.

The company posted earnings per share of $1.16 on revenue of $1.61B during the first quarter. However, analysts queried by investing.com predicted earnings per share of $1.43 on revenue of $1.55B. Calvin McDonald, Chief Executive Officer, stated:

“In the first quarter of 2022, continued momentum in the business enabled us to achieve a strong start to the year. These results provide a solid foundation as we begin our next five-year journey and deliver against our new Power of Three ×2 growth plan.”

Lululemon Athletica Q1 2022 Key Financial Outline

The Canadian athletic apparel retailer based in Vancouver registered a revenue growth of 32% to $1.6 billion. Furthermore, its net revenue rose by 32% in North America and gained 29% internationally.

Lululemon Athletica said its gross profit gained 24% to $870.4 million, but its gross margin fell 320 basis points to 53.9%. Remarkably, the company’s income from operations went up by 34% to $260.3 million. Notably, the company’s income tax expense grew by 43% to $70.3 million.

The company’s weak earnings per share reached $1.48 from $1.11 reported during the first quarter of last year. In the first quarter, the company managed a stock repurchase program that cost $232.6 million. The Q1 report showed that the company retrieved 0.7 million of its shares at an average price of $328.40.

Lululemon Athletica has declared that it has set up five extra stores which adds up to an astounding 579 stores.

LULU Shares and Market View

In line with the market data provided by MarketWatch, shares in LULU have traded on a descending trend from a year ago. The company’s stock market slid 11.94%, 22.70%, and 4.66%, in the past one month, YTD, and the past year, respectively. However, shares of LULU rose approximately 5% in the last five days.

Canada's lululemon athletica

The company has a market valuation of around $38.6 billion. In the last 52 weeks, LULU shares varied between $251.51 and $485.83. Onwards, the company sees net revenue for the second quarter will stretch from $1.750 billion to $1.775 billion. Moreover, the company expects weak earnings per share are seen to range from $1.89 to $1.94 for the quarter.

For the entire fiscal year, the company estimates the net revenue to range between $7.610 billion to $7.710 billion.



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