Shares of Lululemon Athletica (LULU) are soaring in Friday’s session on the back of strong third quarter results. The athletic apparel company raised its full-year revenue forecast after beating estimates across the top and bottom line, thanks in large part to the brand’s strength in international markets.
Lululemon CEO Calvin McDonald spoke with Yahoo Finance host Julie Hyman about the athleisure brand’s performance. Lululemon’s growth in China was a particular bright spot, where comparable sales grew 27% during the quarter; that’s compared to a 2% decline in the Americas market.
McDonald believes Lululemon’s community-focused model has played a significant role in that success, noting that its strong foundation “allows us to continue to grow and withstand some macro challenges.”
While acknowledging that growth in the US and the Americas has been slower, McDonald remains optimistic about the brand’s prospects, especially in the women’s category. "There’s no doubt in my mind that we have a long runway of growth still in the Americas," he says, attributing that the slowing US growth to “missed opportunities in newness.” Which has been a big focus goi
About Yahoo Finance:
Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life.
– Get the latest news and data at finance.yahoo.com
– Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO)
– Follow Yahoo Finance on social:
X: http://twitter.com/YahooFinance
Instagram: https://www.instagram.com/yahoofinance/?hl=en
TikTok: https://www.tiktok.com/@yahoofinance?lang=en
Facebook: https://www.facebook.com/yahoofinance/
LinkedIn: https://www.linkedin.com/company/yahoo-finance
#luluemon #yahoofinance #stockmarket
