Lululemon Sales Surge as Pandemic Buying Continues and China Revenue Accelerates

Lululemon reported 24% sales growth and raised full-year guidance due to demand for comfortable clothing remaining strong.
Outside of North America, Lululemon's sales rose 60% with China revenue growing 79%.
Lululemon's gross margins increased 3.6 percentage points aided by lower air freight costs.
Lululemon now expects 2023 revenue between $9.44 billion and $9.51 billion, up from $9.30 billion to $9.41 billion previously estimated.
The results surpassed estimates as wealthy Americans continue buying Lululemon's pricey activewear.