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Lululemon (LULU) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

Zacks Equity Research
·2-min read

For the quarter ended April 2023, Lululemon (LULU) reported revenue of $2 billion, up 24% over the same period last year. EPS came in at $2.28, compared to $1.48 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $1.92 billion, representing a surprise of +3.96%. The company delivered an EPS surprise of +15.74%, with the consensus EPS estimate being $1.97.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Lululemon performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Total Gross Square Footage: 2632 Ksq ft compared to the 2616.85 Ksq ft average estimate based on eight analysts.

  • Total stores: 662 compared to the 667.67 average estimate based on six analysts.

  • Comparable store Sales: 13% versus 9.08% estimated by six analysts on average.

  • Total Net New Stores: 7 versus 27.5 estimated by four analysts on average.

  • Comparable sales (Constant currency): 17% versus 12.5% estimated by three analysts on average.

  • Comparable Store Sales (Constant currency): 16% versus 11.67% estimated by three analysts on average.

  • Revenues- Company-operated stores: $958.09 million versus $869.39 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +31% change.

  • Revenues- Other: $207.76 million versus $182.63 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +29.4% change.

  • Revenues- Direct to consumer: $834.94 million versus the six-analyst average estimate of $856.79 million. The reported number represents a year-over-year change of +15.8%.

View all Key Company Metrics for Lululemon here>>>

Shares of Lululemon have returned -13.4% over the past month versus the Zacks S&P 500 composite's +0.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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Zacks Investment Research