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- Lululemon Athletica Inc (NASDAQ:LULU) reported second-quarter FY21 sales growth of 61% year-on-year, to $1.45 billion, beating the analyst consensus of $1.33 billion. On a constant dollar basis, net revenue rose 56%.
- Net revenue from company-operated stores increased 142% Y/Y, and Direct to consumer rose 8%.
- North America recorded a 63% Y/Y revenue increase, and international revenue grew 49%.
- Gross profit increased 72% Y/Y to $842.7 million, and gross margin expanded 390 basis points to 58.1%.
- The operating margin increased 630 basis points to 20.1%, and operating income for the quarter rose 134% to $291 million.
- Lululemon Athletica held $1.2 billion in cash and equivalents as of August 1, 2021. Net cash provided by operating activities for the six months totaled $499.7 million.
- Adjusted EPS of $1.65 beat the analyst consensus of $1.18.
- Outlook: Lululemon Athletica sees Q3 revenue of $1.40 billion - $1.43 billion versus the consensus of $1.32 billion. The company expects Q3 adjusted EPS of $1.33 - $1.38 versus the consensus of $1.32.
- Lululemon Athletica expects FY21 revenue of $6.19 billion - $6.26 billion (prior $5.825 billion - $5.905 billion) versus the consensus of $5.94 billion. The company expects FY21 adjusted EPS of $7.38 - $7.48 (prior $6.73 - $6.86) versus the consensus of $6.91.
- Price Action: LULU shares are trading higher by 13.25% at $431.30 in premarket on the last check Thursday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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