The Vancouver-based athleisure company’s net revenue increased nine per cent to US$2.4 billion in the third quarter of 2024, compared to the same quarter a year earlier. It now expects annual revenue between US$10.45 billion and US$10.49 billion, up from its previous forecast range of US$10.38-billion to US$10.48-billion. (The Logic)
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The Vancouver-based athleisure company’s net revenue increased nine per cent to US$2.4 billion in the third quarter of 2024, compared to the same quarter a year earlier. It now expects annual revenue between US$10.45 billion and US$10.49 billion, up from its previous forecast range of US$10.38-billion to US$10.48-billion. (The Logic)
Talking point: A 36 per cent surge in revenue from China, mirroring its second-quarter momentum, and strong U.S. Thanksgiving holiday sales, helped boost the company’s confidence, CEO Calvin McDonald said on an earnings call. The strong performance follows some recent challenges Lululemon has faced, including its chief product officer’s departure and concerns about slowing growth in its core Americas market. The yoga-pant makers’ stock price was up about 16.45 per cent by Friday afternoon, but it’s still down nearly 21.5 per cent from the start of the year.
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