Lululemon's net revenue increased by 24% in the first quarter of 2023

Tech 2023-06-02 16:13:32 Source: Network

On June 2nd, Lululemon released its financial report for the first quarter of the 2023 fiscal year. In the first quarter, the company's net revenue increased by 24% year-on-year to $2 billion, with North American business net revenue increasing by 17% and international business net revenue increasing by 60%

On June 2nd, Lululemon released its financial report for the first quarter of the 2023 fiscal year. In the first quarter, the company's net revenue increased by 24% year-on-year to $2 billion, with North American business net revenue increasing by 17% and international business net revenue increasing by 60%. The growth rate of the Chinese market is significant, with revenue increasing by 79% year-on-year in the first quarter.

For the second quarter of fiscal year 2023, Lululemon expects net revenue to be between $2.14 billion and $2.17 billion, an increase of approximately 15%. The diluted earnings per share for this quarter are expected to be between $2.47 and $2.52. For the 2023 fiscal year, Lululemon expects net revenue to be between $9.44 billion and $9.51 billion, an increase of approximately 17%. It is expected that the diluted earnings per share will be between $11.74 and $11.94 this year.

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