Lululemon Earnings Are Today. Why the Results Could Blow Past Competitors.

📆 31/08/2023 03:14 a. m.
📰 MarketWatch

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The company continues to see strong sales momentum even as consumers have started to pull back on discretionary spending.

Lululemon Athletica stock has sprinted ahead of its competitors, and some analysts say the company’s second-quarter earnings could give the shares a second wind.Wall Street is betting that Lululemon will meet or beat analyst estimates for the quarter. The company is expected to turn in adjusted earnings of $2.54 a share on $2.17 billion in revenue, according to FactSet. Same-store sales could rise by 12.1%.

“While the macro environment has become increasingly challenging, we’ve seen that high momentum brands have continued to perform well,” wrote Wedbush analyst Tom Nikic in a Wednesday note. Lululemon is one of those brands, he added. Lululemon’s high-income consumer base might also help pad the company’s top line. Results from other retailers with exposure to higher-income consumers—including Abercrombie & Fitch and Urban Outfitters —suggest this demographic continues to spend, even as other consumers pull back.

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