Lululemon Q1 2022 Earnings: Sales Rise by 88% Surpassing Estimates as Customer Traffic Rebounds
6 hours ago by Patrick Kariuki · 3 min read
Photo: Depositphotos
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Lululemon’s forecast for the second quarter and the whole financial year, in general, is quite strong.
Lululemon Athletica Inc (NASDAQ: LULU) financial Q1 2022 report indicates that sales rose by 88% to surpass estimates as customers shopping habits go back to norm. The sportswear manufacturer, whose primarily focus is athletics apparel also gave a strong forecast for the second quarter and also raised the estimates of the remaining part of the year. The athletics apparel maker said that the decision to revise their targets was influenced by the healthy growth of the store. While addressing analysts, Calvin McDonald, the company’s director, said that he expects Lululemon’s international operations will grow to match the North America’s operations in the near future. The company’s stock rose by slightly short of 1%. By end of the year 2020, Lululemon’s international sales were equal to 14% of the whole business.