.lululemon’s winning streak continues both on the court and on Wall Street.
were closed during the first quarter and at least part of the second quarter. Still, the region generated double-digit revenue growth during the most recent quarter.
Additional headwinds include macro supply chain issues and inflationary pressures, which have impacted raw materials, labor costs and air freight prices. McDonald said some consumer price increases will help offset price increases the company is facing. In addition, first-quarter inventories rose 74 percent to $1.3 billion, compared with $700 million at the end of last year’s first quarter. Frank said on the call that the company “left profit on the table” by being under-inventoried last year.
Zachary Warring, an equity analyst at CFRA Research, added in a note that the heightened inventory levels aren’t a concern. brands [Lululemon] consistently grows into its inventory and has had no issues selling inventory at full price,” he wrote. “[Lululemon] continues to execute in dynamic times and we expect their margins will hold up better than peers and more in line with luxury goods as inflation surges and consumer sentiment drops.
Meanwhile, the CEO pointed out a number of tailwinds that have positively impacted the company, such as consumers’ desire for versatile apparel; healthy lifestyle trends, and the brand’s array of technical apparel.
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