About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

Revenue Growth - Net revenue increased 7% to $2.4 billion in Q2 2024, with an 8% increase on a constant dollar basis[90] - Net revenue increased by $370.0 million (9%) to $4.6 billion in the first two quarters of 2024 compared to $4.2 billion in 2023, driven by growth in China Mainland and Rest of World regions[115] - Total net revenue increased by 8% on a constant dollar basis, with China Mainland leading at 39% growth[139] - Revenue was $43.9 million lower in the first two quarters of 2024 compared to the same period in 2023 due to foreign currency exchange fluctuations[156] Comparable Sales Performance - Comparable sales increased 2% overall, with China Mainland showing a 21% increase and Rest of World a 17% increase[90] - Americas comparable sales decreased 3%, primarily due to lower conversion rates, despite increased traffic[98] - Comparable sales increased by 4% on a constant dollar basis, with China Mainland contributing 24% growth[139] Gross Profit and Margin - Gross profit increased 9% to $1.4 billion, with gross margin rising 80 basis points to 59.6%[90] - Gross profit increased by $237.9 million (9.7%) to $2.69 billion, with gross margin improving by 50 basis points to 58.7%[120] - China Mainland gross profit increased by $118.9 million, driven by higher net revenue and gross margin, partially offset by unfavorable foreign currency exchange rates[128] - Rest of World gross profit increased by $79.6 million, primarily due to higher net revenue and gross margin, partially offset by unfavorable foreign currency exchange rates[129] Operating Income and Margin - Income from operations increased 13% to $540.2 million, with operating margin up 110 basis points to 22.8%[90][92] - Income from operations increased by $92.2 million (10.5%) to $972.9 million, with operating margin improving by 30 basis points to 21.2%[127] Net Income and Earnings Per Share - Diluted earnings per share rose to $3.15 in Q2 2024, compared to $2.68 in Q2 2023[92] - Net income increased by $51.3 million (15.0%) to $392.9 million in Q2 2024, driven by higher gross profit and other income[113] - Net income increased by $82.3 million (13.0%) year-over-year, driven by a $237.9 million increase in gross profit and a $25.9 million increase in other income[132] Regional Performance - China Mainland net revenue increased by $79.7 million, driven by a 21% rise in comparable sales and new store openings[99] - Rest of World net revenue increased by $60.5 million, with comparable sales up 17% due to higher traffic and transaction values[100] - China Mainland net revenue increased by $173.5 million (39%) to $618.0 million, with comparable sales growth of 24% (28% on a constant dollar basis)[118] - Rest of World net revenue increased by $120.4 million (25%) to $598.3 million, with comparable sales growth of 20% (23% on a constant dollar basis)[119] - Americas net revenue increased by $76.2 million (2%) to $3.36 billion, driven by new store openings, despite a 1% decline in comparable sales[117] Expenses - Selling, general, and administrative expenses increased 6.7% to $871.9 million, primarily due to higher head office and operating channel costs[102][103] - Selling, general and administrative expenses increased by $149.5 million (9.6%) to $1.71 billion, primarily due to higher marketing and technology costs[123] - Income tax expense increased by $35.8 million (13.5%), with the effective tax rate rising by 10 basis points to 29.6%[131] Store Expansion and Operations - The company opened 15 net new stores in the Americas, 25 in China Mainland, and 9 in Rest of World since Q2 2023[117][118][119] - Company-operated stores in China Mainland increased from 127 to 132, while total Americas stores grew from 438 to 441[153] - Total company-operated stores decreased from 711 to 721 as of July 28, 2024 compared to January 28, 2024[154] - Total retail locations operated by third parties increased from 39 to 45 as of July 28, 2024 compared to January 28, 2024[154] Cash Flow and Financial Position - Cash provided by operating activities increased by $48.5 million, primarily due to higher net income[143] - Cash used in financing activities increased by $610.9 million, driven by higher stock repurchases of 2.6 million shares at a cost of $888.9 million[145] - The company held cash and cash equivalents of $1.6 billion as of July 28, 2024[162] - The company has a committed revolving credit facility of up to $400.0 million, with no borrowings outstanding as of July 28, 2024 except for $6.3 million in letters of credit[161] Inventory and Derivatives - Inventory balance decreased by 14% to $1.4 billion as of July 28, 2024[149] - The net fair value of outstanding derivatives as of July 28, 2024 was $0.1 million, with a hypothetical 10% depreciation in the U.S. dollar potentially causing a $21.5 million depreciation in derivative value[159] Foreign Currency and Inflation Risks - Foreign currency fluctuations reduced net revenue growth by $43.9 million in the first two quarters of 2024 compared to 2023[94] - The impact of translation on Canadian subsidiaries resulted in an increased loss of $42.5 million, including net investment hedge gains[157] - The company is exposed to inflationary risks, including potential increases in transportation costs, wages, and raw material costs, which could adversely affect operating margins[166] - The company may enter into further derivative financial instruments to hedge additional currency pairs in the future to reduce foreign currency exchange risks[159] - The company does not engage in interest rate hedging activities currently but may consider it in the future if there is a meaningful outstanding balance under the revolving credit facility[161] Other Income and Expenses - Other income (expense), net increased by $10.6 million (144.4%) to $18.0 million in Q2 2024, primarily due to higher interest income[108]

LULULEMON ATHLETICA INC. ANNOUNCES SECOND QUARTER FISCAL 2024 RESULTS Revenue increased 7% to $2.4 billion Comparable sales increased 2%, or 3% on a constant dollar basis Diluted EPS of $3.15 Vancouver, British Columbia – August 29, 2024 – lululemon athletica inc. (NASDAQ:LULU) today announced financial results for the second quarter of fiscal 2024, which ended on July 28, 2024. Calvin McDonald, Chief Executive Officer, stated: "In the second quarter, lululemon delivered revenue and earnings growth, with on ...

Signage at a Lululemon store in New York, US, on Thursday, Aug. 22, 2024. Lululemon Athletica Inc. is scheduled to release earnings figures on August 29.Lululemon missed Wall Street's fiscal second-quarter sales expectations and lowered its guidance Thursday after it botched a highly anticipated product launch and growth slowed in the Americas. The company now expects full year net revenue to be between $10.38 and $10.48 billion, down from a previous range of between $10.7 billion and $10.8 billion. Lululem ...

RADNOR, Pa., Aug. 29, 2024 (GLOBE NEWSWIRE) -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been filed in the United States District Court for the Southern District of New York against lululemon athletica inc. (“lululemon”) (NASDAQ: LULU) on behalf of investors who purchased or otherwise acquired lululemon securities between December 7, 2023 and July 24, 2024, inclusive (the “Class Period”). The case is assigned to the Honorab ...

NEW YORK, Aug. 29, 2024 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Lululemon Athletica Inc. (NASDAQ: LULU).Shareholders who purchased shares of LULU during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.CONTACT US HERE:https://securitiesclasslaw.com/securities/lululemon-athletica-inc-loss-submission-form/?id=98727&from=4CLASS PERIOD: Decem ...

Key TakeawaysLululemon shares have lost nearly half their value since the start of the year. Analysts say the athletic wear brand appears likely to cut its projections for the full year.Lululemon last month halted sales of a new line of leggings amid negative feedback from customers. JPMorgan analysts said that could affect second-half sales and the release of other new products.Raymond James analysts said Tuesday that "unfavorable" sales trends among other companies that also target high-income consumers c ...

LOS ANGELES, Aug. 28, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises lululemon athletica inc. ("lululemon" or the "Company") (NASDAQ: LULU) investors of a class action representing investors that bought securities between December 7, 2023 and July 24, 2024, inclusive (the "Class Period"). Lululemon investors have until October 7, 2024 to file a lead plaintiff motion. Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their ...

Outside of Nvidia (NVDA) , Wall Street will be closely monitoring Q2 results from Lululemon (LULU)  this week with the athletic apparel giant set to report after market hours on Thursday, August 29.Despite being renowned for its loyal customer base, Lululemon’s stock has plummeted this year on fears of a slowdown in consumer spending along with the presumptions of increased competition from the likes of Nike (NKE) , Adidas (ADDYY) , and Under Armour (UAA) .That said, let’s see if the selloff in Lululemon’s ...

Lululemon Athletica Inc LULU will report second-quarter earnings on Thursday after market hours.The stock is down 27.67% over the past year, 47.64% year-to-date.Let’s look at what the charts indicate for Lululemon stock and how the stock currently maps against estimates (Wall Street expects $2.92 in EPS and $2.409 billion in revenues).Lululemon Stock Chart Mixed Ahead Of Q2 EarningsLululemon stock is showing a mixed technical picture with some signals favoring a bullish outlook, while others suggest a more ...