NKE - Lululemon Continues Its Quarterly Report Winning Streak and Shows It Is Worthy of Challenging Nike | Benzinga
On Thursday, Lululemon Athletica Inc (NASDAQ: LULU) continued its trend of beating sales and profits. Fueled by international growth, the Nike Inc (NYSE: NKE) rival boosted its full year guidance.
Fiscal Second Quarter Highlights
For the quarter that ended on July 30th, athletic apparel retailer reported its sales rose 18% YoY to $2.21 billion, topping Refinitiv’s consensus estimate of $2.17 billion. Despite a slow down in North America where sales grew 11%, total sales were fueled by strong international growth, as markets outside North America expanded 52% while China alone increased 61%, more than doubling from last year comparable quarter’s 30%. Net income also rose at revenue’s 18% YoY pace to $341.6 million, or $2.68 per share, topping Refinitiv’s estimate of $2.54.
Both men’s category and DTC sales rose 15% as Lululemon is pushing these segments intensively as part of its growth strategy. In the reported quarter, DTC ...