VFC - Lululemon +8% On Thursday: What's Going On? | Benzinga
Lululemon Athletica Inc. (NASDAQ:LULU) shares are trading higher in the premarket session on Thursday.
The company reported first-quarter financial results yesterday after the bell, where comparable sales increased 6% year over year, or 7% on a constant dollar basis.
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U.S. consumers are “still spending, but I think they’re being selective of where they spend and what they choose to buy,” Chief Executive Officer Calvin McDonald said in an interview with Bloomberg.
Lululemon anticipates that its overseas markets, currently contributing around 21% of revenue, will eventually constitute 50% of its business in the long run, Bloomberg added.
McDonald mentioned that Lululemon identified “missed opportunities” in its women’s business during the ...