Consumer
Lululemon’s New Product Lineup, Global Growth Drive Outlook Lift
- Company increased its stock buyback program by $1 billion
- CEO says consumers are being selective with their spending
The yogawear brand now sees earnings per share totaling as much as $14.47 in the current fiscal year, up 27 cents from the previous view.
Photographer: Matthew Hatcher/BloombergThis article is for subscribers only.
Lululemon Athletica Inc. shares jumped on Thursday after international sales growth and new women’s merchandise helped propel a higher full-year profit outlook.
The yogawear brand will be unveiling new products through 2024, including leggings that use hydrogen yarn in July, and it has invested in store expansion, supply-chain improvements and international facilities. The company hopes to attract more male shoppers with offerings for training and golf.