Lululemon first-quarter sales rise 88%, topping estimates, as store traffic rebounds

Earnings

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Pedestrians wearing protective masks walk past a Lululemon store in San Francisco, California, on Monday, March 29, 2021.
David Paul Morris | Bloomberg | Getty Images

Lululemon on Thursday reported fiscal first-quarter revenue that soared 88%, topping analysts’ estimates, as shopper traffic steadily rebounded to its stores.

The leggings maker also issued strong guidance for its fiscal second quarter and for the full year, saying momentum for its brand is growing across all geographies.

Here’s how Lululemon did for the period ended May 2, compared with what analysts were anticipating, based on a Refinitiv survey:

  • Earnings per share: $1.16 adjusted vs. 91 cents expected
  • Revenue: $1.23 billion vs. $1.13 billion expected

Net income grew to $145 million, or $1.11 per share, from $28.6 million, or 22 cents per share, a year earlier. Excluding one-time charges, Lululemon earned $1.16 a share, better than the 91 cents per shares that analysts estimated.

Revenue rose to $1.23 billion from $652 million a year earlier. That came in ahead of expectations for $1.13 billion.

Find the full earnings press release from Lululemon here.

This story is developing. Please check back for updates.

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