Lululemon earnings beat estimates

me 6/04/2023 03:08:00 AM

Lululemon's Q1 sales rose 24% YoY.

Revenue was boosted by reduced freight costs and a strengthening Chinese market.

Lululemon posted revenue of $2B, beating the $1.93B expected by analysts.

Earnings per share stood at $2.28, which also surpassed expectations.
Lululemon's revenue from China jumped 79% YoY as the country recovers from the effects of COVID-19 restrictions.
The company raised its full-year guidance and now expects revenue of between $9.44B and $9.51B for 2023.