Lululemon meets Street with Q1 revenue; net income falls

Lululemon Athletica Inc. slightly exceeded Wall Street expectations with net revenue as net income slipped in the first quarter of fiscal 2025.

The athleisure apparel retailer reported first quarter net revenue of $2.37 billion, up 7% from $2.21 billion in the first quarter of fiscal 2024 and largely in line with Wall Street predictions of $2.36 billion. Americas net revenue increased 3%, or 4% on a constant dollar basis. International net revenue increased 19%, or 20% on a constant dollar basis.

Net income fell roughly 2% year-over-year to $314.57 million from $321.42 million. Same-store sales 1% from the same quarter a year earlier. Americas same-store sales decreased 2%, or 1% on a constant dollar basis, while international comparable sales increased 6%, or 7% on a constant dollar bas