Lululemon will report fiscal fourth-quarter results after market close Tuesday.
Lululemon, like Nike, is benefiting from robust foot traffic to its stores despite a tough economy, according to retail analytics data.
In a recent report, analytics company Placer.ai found that both Nike Inc. NKE and Lululemon Athletica Inc. LULU are seeing visits to their stores increase even as visits to sporting goods stores in general have decreased in early 2023. Year over year, visits to Nike and Nike Factory stores were up almost 6% in February, and visits to Lululemon stores were up 11.2%. In contrast, visits to sports-apparel stores across the board were down 7.6%, according to Placer.ai.
Lululemon, which makes yoga pants and other athletic apparel, will report fiscal fourth-quarter results after market close Tuesday. Rival Nike recently reported better-than-expected fiscal third-quarter results. Analyst firm Raymond James has also noted Lululemon’s long-term growth potential, particularly internationally. “Big picture, we have confidence in the [long-term] growth levers, especially International as [Lululemon] remains highly underpenetrated vs. Global Athletic peers,” wrote Raymond James analyst Rick Patel in a note Monday. Raymond James maintained its strong buy rating for Lululemon.
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