PTON - Lululemon Isn't Nike But It's Going After Menswear And Footwear | Benzinga
Lululemon Athletica Inc (NASDAQ: LULU) reported its third quarter results. Although it does not have the legacy of Nike (NYSE: NKE), it got under the skin of millennials who are passionate about the concept of a healthy lifestyle that embodies physical, mental, and emotional wellbeing. Nike is a global giant, but Lululemon carved a nice niche for itself, mainly in the field of yoga and athleisure wear.
Lululemon’s Third Quarter Highlights
For the quarter ended on October 29th, Lululemon reported that revenue rose 18.7% to $2.2 billion but net income slipped 2.6% to $248.7 million. Lululemon’s business expanded by 12% in North America, while growing 49% in the rest of the world. During the reported quarter, Lululemon added a net of 14 new stores, with the total amounting to 686. Adjusted earnings per share amounted to $2.53, topping FactSet’s consensus estimate of $2.28.
CEO Calvin McDonald revealed that the women’s business grew 19% during the quarter due to new product launches, strength in ...