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Lululemon Athletica Inc.’s revenue rose 24 percent year over year to $2 billion in the first quarter of fiscal 2023, ended April 31 — beating analyst estimates of $1.92 billion. Comparable store sales increased 16 percent.
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Lululemon Athletica Inc forecast annual sales and profit above Wall Street estimates on Tuesday, betting that demand for its pricier yoga wear and athleisure clothing would hold strong even as inflation drags consumer spending.
Joan Kennedy is Correspondent at The Business of Fashion. She is based in New York and covers beauty and marketing.
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