LULU - Investors Who Wrote Off Lululemon Were Wrong as Shares Jump on Strong Revenue Growth. Is It Too Late to Buy the Stock?
2024-06-09 09:30:00 ET
Shares of Lululemon Athletica (NASDAQ: LULU) jumped following strong fiscal first-quarter results, but the stock has still had a difficult year, down over 30% year to date. Let's dive into the company's Q1 results, look at why the stock has struggled, and assess whether now is a good time to buy the stock.
For its fiscal first quarter, Lululemon saw its revenue rise 10%, or 11% on constant currencies, to $2.2 billion. Women's sales rose 10%, while men's sales were up 15% and accessory sales edged up 2%.
Revenue in the Americas increased 3%, or 4% in constant currencies, while International sales jumped 35%, or 40% in constant currencies. U.S revenue edged up 2%, while Mainland China sales soared 45%, or 52% in constant currencies.
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Investors Who Wrote Off Lululemon Were Wrong as Shares Jump on Strong Revenue Growth. Is It Too Late to Buy the Stock?