Summary by Moomoo AI
On December 5, 2024, Lululemon Athletica reported its Q3 2024 financial results, showing a 9% YoY revenue increase to $2.4 billion and a 12% rise in gross profit to $1.4 billion. Diluted EPS reached $2.87, up from $1.96 in Q3 2023. The company added 28 new stores, ending the quarter with 749 locations.The board approved a $1 billion increase in the stock repurchase program, bringing the total authorization to $1.8 billion. During Q3, Lululemon repurchased 1.6 million shares for $408.5 million. The repurchase program has no time limit and depends on market conditions.For Q4 2024, Lululemon expects revenue between $3.475 billion and $3.510 billion, with EPS ranging from $5.56 to $5.64. The company aims for $12.5 billion in revenue by 2026 under its Power of Three ×2 growth plan.
