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Canada's Lululemon Athletica forecasts revenue surge of 15% in Q2 FY23

05 Jun '23

1 min read

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Canadian apparel retailer Lululemon Athletica forecasts robust growth for Q2 FY23, expecting net revenue to rise by around 15 per cent to reach $2.140-$2.170 billion, and diluted EPS between $2.47 and $2.52. For FY23, the company predicts a 17-per cent revenue increase, totalling $9.440-$9.510 billion, with EPS ranging from $11.74 to $11.94.

Canadian multinational athletic apparel retailer Lululemon Athletica has issued its outlook for the second quarter (Q2) of fiscal 2023 (FY23), with the company projecting net revenue to be in the range of $2.140 billion to $2.170 billion, signalling a potential growth of approximately 15 per cent.

Furthermore, Lululemon expects diluted earnings per share (EPS) to be in the range of $2.47 to $2.52 for the quarter. This projection is based on an assumed tax rate of 30 per cent, the company said in a press release.

For FY23, the company expects net revenue to be in the range of $9.440 billion to $9.510 billion, indicative of an approximate growth of 17 per cent.

The forecast for FY23 diluted EPS stands between $11.74 and $11.94, assuming a 30-per cent tax rate.

"Our Q1 results were strong as guests responded well to our product offering in all our markets across the globe. A meaningful acceleration in our China sales trend, coupled with lower air freight, contributed to our better than planned financial performance. We are pleased with our momentum heading into the second quarter and for the full year as reflected in our revised outlook for FY23," said Meghan Frank, chief financial officer.

Fibre2Fashion News Desk (DP)

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