Lululemon Athletica Inc. (LULU) shares surged 13.79% in after-hours on Wednesday, September 08, 2021, and closed the daily trading at $433.36. In the regular trading session of Wednesday, LULU’s stock lost 1.45%. LULU shares have risen 8.88% over the last 12 months, and they have moved down 4.83% in the past week. Over the past three months, the stock has gained 16.39%, while over the past six months, it has soared 23.25%.
Let’s see what’s going on recently with the company?
LULU recent financial results announcement
On September 08, 2021, lululemon Athletica Inc (LULU) announced financial results for the second quarter of fiscal 2021.
Q2 2021 financial highlights
- LULU reported net revenue of $1.5 billion for Q2 2021 compared to $902.9 million in Q2 2020.
- In Q2 2021, gross profit was $842.7 million compared to $489.5 million in Q2 2020.
- Selling, general and administrative expenses were $541.32 million in Q2 2021 compared to $352.88 million in Q2 2020.
- The company earned a net income of $208.07 million in Q2 2021 compared to $86.8 million in Q2 2020.
- Diluted earnings per share were $1.59 compared to $0.66 in the second quarter of 2020.
The financial outlook for Q3 2021
- The company is expecting net revenue in the range of $1.400 billion to $1.430 billion.
- Diluted earnings per share in the range of $1.28 to $1.33.
The financial outlook for FY 2021
- Net revenue in the range of $6.190 billion to $6.260 billion.
- Diluted earnings per share in the range of $7.16 to $7.26.
LULU Expanded Employee Benefits
On August 26, 2021, lululemon Athletica Inc (LULU) announced a comprehensive overview of the Company’s approach to pay and benefits. lululemon will raise the minimum base pay for the majority of its store and Guest Education Centre (GEC) employees in North America, from September 27, 2021. People who are currently employed, and individuals who are hired from this point forward, will receive a new minimum of $15 or $17 per hour depending on their role and the market. In addition, employees continue to be eligible for lululemon’s team-based bonus program, with the possibility to earn up to an additional $3 an hour on average, and up to $6 an hour, for store-based goals and results achieved.
LULU partnered with Genomatica
On August 18, 2021, lululemon Athletica Inc. (LULU) announced a multi-year collaboration with sustainable materials leader Genomatica to bring renewably sourced, bio-based materials into lululemon’s products. is Genomatica’s largest partnership within the retail industry. Together, the two companies will create lower-impact, plant-based nylon to replace conventional nylon, which is the largest volume of synthetic material currently used to make lululemon products.
Conclusion
The recent financial results which were quite impressive and the revised financial outlook was the reason behind LULU gains in the after-hours on Wednesday. We can expect it to continue its momentum in the coming trading sessions on Thursday.
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