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Athletic put on firm Lululemon Athletica (NASDAQ: LULU) reported a rise in revenues and revenue for the fourth quarter of 2023. The corporate additionally issued steerage for the primary quarter of 2024.
Fourth-quarter revenues elevated 16% year-over-year to $3.2 billion. There was a 12% development in comparable gross sales. Americas internet income elevated 9% and worldwide income jumped 54%.
Web earnings jumped to $669.5 million or $5.29 per share throughout the three months from $119.8 million or $0.94 per share final 12 months. Gross revenue elevated 25% to $1.9 billion.
For the primary quarter of 2024, the corporate expects internet income to be within the vary of $2.175 billion to $2.200 billion, representing development of 9-10%. Earnings, on a per-share foundation, are anticipated to be within the vary of $2.35 to $2.40 for the quarter. This assumes a tax charge of 29.0% to 29.5%.
Lululemon’s CEO Calvin McDonald stated, “In the course of the fourth quarter, we noticed continued momentum throughout our channels, geographies, and merchandise classes, pushed by our groups all over the world. As we step into 2024, we’re targeted on the numerous alternatives forward for Lululemon as we navigate the dynamic retail surroundings and ship for visitors by way of modern new merchandise and model activations.”
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