Lululemon Athletica, the Vancouver-based athleticwear maker, continued to show strong sales growth in the third quarter, despite a challenging consumer environment. The company reported a profit of $248.7 million, or $1.96 per share, compared to $255.5 million, or $2 per share, in the same period last year. Analysts had expected per-share earnings of $2.29.
After adjusting for certain one-time items, the company's earnings per share came in at $2.53, surpassing analysts' forecast of $2.28. Lululemon's revenue also saw an impressive increase of 19% to reach $2.2 billion, beating analysts' expectations of $2.19 billion.
In terms of geographical performance, Lululemon experienced a 12% revenue growth in North America and a remarkable 49% growth in international sales. Furthermore, the company's comparable sales, which exclude the impact of store openings and closures, rose by 13%.
Lululemon's Chief Executive, Calvin McDonald, expressed optimism for the upcoming fourth quarter and the holiday shopping season, highlighting positive early signs. Despite the uncertain macroeconomic backdrop, Finance Chief Meghan Frank emphasized that the company remains focused on executing its business plan successfully.
Overall, Lululemon's exceptional third quarter performance reflects its ongoing success and resilience in the highly competitive athleticwear market.
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