• Loading stock data...
Thursday, July 18, 2024
Join us this September for Tuned In Request to Attend

Lululemon Sales Up 24%, Beats Expectations With Strong Quarter

  • Revenue for the period was $2 billion, outpacing expectations.
  • Strong growth in China helped the brand to a successful quarter.

Lululemon hit $2 billion in revenue in its fiscal first quarter, helping the Vancouver-based athleisure brand beat Wall Street expectations — and even its own lofty predictions.

Sales rose by 24% over the previous period, buoyed by a 79% spike in revenue in China. The brand will keep capitalizing on growth there, as the majority of the 30-35 new stores it plans to open will be located there. 

Full-year revenue is now expected to potentially reach $9.51 billion, an increase from previous predictions of as low as $9.31 billion. Lululemon stock is up over 10% since the earnings report.

There was no update on the state of Mirror, the at-home fitness equipment company Lululemon bought in 2020 for $500 million but is now considering selling.

The positive news for Lululemon builds on a strong run for the brand. In 2022, the company’s net revenue rose 30% to $8.1 billion, and the strong start to 2023 “shows the continued momentum in the business,” according to Lululemon CEO Calvin McDonald. 

On the earnings call, McDonald highlighted the “top- and bottom-line results that exceeded our guidance.”

Lululemon’s success is impressive as competitors in the athletic apparel space continue to see mixed results. Nike posted a strong report in its most recent earnings period, while Adidas saw a slight dip.

Copy Link
Link Copied
Link Copied

What to Read

A ‘Seismic Shift’ for Women’s Sports: WNBA Lands $2.2 Billion Rights Deal

ESPN, Amazon, and NBC will pay the WNBA $200 million annually.

Braves’ Bold Plans, Political Backdrop Shape All-Star Game Prep

The Braves plan a series of upgrades to Truist Park while looking to avoid dwelling on state politics.

Manfred ‘Comfortable’ With A’s Move to Vegas Despite Funding Hurdles

Rob Manfred continues to back A’s owner John Fisher, even as concerns grow in Las Vegas and Sacramento.

‘Only So Many Hours in the Day’: PGA Tour–PIF Talks Piling Up for Tiger

The golfer shed light on his off-course duties at the Open Championship.
podcast thumbnail mobile
Front Office Sports Today

Knicks’ Hart, Brunson Like New NBA Media Deals, Owner Disagrees


Featured Today

Jan 7, 2024; Nashville, Tennessee, USA; Jacksonville Jaguars wide receiver Calvin Ridley (0) reacts after scoring a touchdown against the Tennessee Titans during the first half at Nissan Stadium.
July 14, 2024

Without Hard-Line Bans, Pro Athletes and Personnel Will Keep Betting on Sports

Penalties often aren’t stringent or consistent enough to deter banned behavior.
Oct 2, 2021; Miami Gardens, FL, USA; NFL commissioner Roger Goddell speaks during the Don Shula Celebration of Life at Hard Rock Stadium.
July 13, 2024

The NFL Is Confident It Can Overturn the Sunday Ticket Verdict

The league may have good reason to believe it can win.
July 8, 2024

NFLPA Report Cards Have Become the ‘Talk of the Locker Room’ Across..

NFLPA report cards have become the ‘talk of the locker room.’

Nike Cuts Over 700 Jobs In Second Phase of Layoffs

“Nike’s always at our best when we’re on the offense,” the company says.
May 13, 2020

Rising 25 Class of 2020

Established in 2017, the Front Office Sports Rising 25 Award has become one of the most competitive and prestigious awards in sports business.
August 5, 2021

Adidas Revenue Up 51% in Q2

Quarterly revenue was up 51% year-over-year to $6 billion and now the company’s full-year outlook has been raised.

TopSpin 2K25 Brings the Legends of Tennis to Your Living Room

2K sports is reviving a classic with TopSpin 2K25.
December 29, 2019

Year in Review: 2019

As we head into both a new year and a new decade, we wanted to take a moment to reflect on this past year and set the tone for what’s to come in 2020.
November 19, 2019

The 2019 Best Employers in Sports

The Front Office Sports Best Employers in Sports Award recognizes the organizations that are doing the best by their employees.
October 4, 2019

Front Office Sports Adds Four More to Team

Front Office Sports is proud to formally announce the addition of four talented team members. FOS now boasts a full-time staff of nine employees.
September 10, 2019

Front Office Sports Launches Best Employers in Sports Award

Today, in collaboration with our primary research partner Yrdstck, we’re excited to launch our latest franchise – The Best Employers in Sports Award.