Lululemon Athletica Pops on Q1 Beat, Stock Buyback Boost

Lululemon stock is higher after the retailer disclosed higher-than-expected fiscal Q1 results and raised its stock buyback plan. Here's what you need to know.

lululemon signage seen outside of department store in New York City
(Image credit: Michael M. Santiago/Getty Images)

Lululemon Athletica (LULU) stock is trading higher Thursday after the athletic apparel retailer beat top- and bottom-line expectations for its fiscal first quarter and announced a $1 billion increase to its share repurchase program.

In the quarter ended April 28, Lululemon said its net revenue increased 10.4% year-over-year to $2.2 billion, driven by a 35% rise in international net revenues. Additionally, LULU disclosed n 11.4% jump in earnings to $2.54 per share. 

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Joey Solitro

Joey Solitro is a freelance financial journalist at Kiplinger with more than a decade of experience. A longtime equity analyst, Joey has covered a range of industries for media outlets including The Motley Fool, Seeking Alpha, Market Realist, and TipRanks. Joey holds a bachelor's degree in business administration.