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Oracle Corp’s (NYSE: ORCL)...

Oracle Corp (NYSE: ORCL) falls down to its knees, share dropped over 12.15%...

RTX Corp (NYSE: RTX)...

RTX Corp (NYSE: RTX) experienced a notable decline of -7.22%, amounting to $6.03...

GameStop Corp. (NYSE:GME) Quarter...

GameStop Corp. (NYSE: GME) to announce its second quarter fiscal 2023 results after...

Advanced Micro Devices (NASDAQ:AMD)...

Shares of Advanced Micro Devices (NASDAQ:AMD) drops 0.38% in afterhours in last trading...
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Lululemon Athletica Inc. (NASDAQ: LULU) Skies Rocket As Raising Fiscal 2023 Sales View Despite Inventory Woes

Shares of Lululemon Athletica Inc. (NASDAQ: LULU) skies rocket as increase to around 18% in pre trading session on Wednesday as dealing with persistent inventory problems that reduced margins, the firm provided an annual projection that exceeded analysts’ estimates due to the robust demand for sportswear.

Ahead of the $9.1 billion analyst forecast given by Bloomberg, the yogawear company anticipates its full-year sales for fiscal 2023 to increase by nearly 15% to a range of $9.3 billion to $9.41 billion.

Strong sales both domestically and overseas helped to a 30% increase in global revenues in the fourth quarter. Sales of $2.8 billion exceeded the forecast of $2.7 billion. Analyst expectations were surpassed by adjusted earnings of $4.40 per share.

Although Lululemon has made efforts to eliminate an inventory backlog that has hampered operations recently, levels are still high and are up 50% from a year ago. After a January prediction called for a decrease of no more than 110 basis points, the gross margin decreased by 300 basis points to 55.1% for the quarter. Over the year, the drop was 230 basis points, reaching 55%.

On the results call, chief financial officer Meghan Frank stated that the increase of the company’s inventory “will continue to diminish.” “We anticipate a big increase in gross margin, driven by decreased air freight.”

While it looks for more expansion, management has accelerated store openings throughout regions, adding 81 sites to reach more than 600 stores this year.

Under a five-year strategy that would expire in 2026, Lululemon’s CEO Calvin McDonald hopes to double revenues to $12.5 billion. The growth of the menswear industry, direct-to-consumer channels, and worldwide operations are the executives’ main priorities.

According to Neil Saunders, managing director of GlobalData Retail, the firm is making progress in areas outside of its primary fitness gear. Despite a protracted era of exceptional growth, Saunders noted in a report, “Lululemon’s prognosis remains good.”

In Tuesday’s after-hours trade, the shares increased by more than 12%. Through the day’s conclusion, the stock had essentially not altered.

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Oracle Corp’s (NYSE: ORCL) Cloud Business Faces Headwinds: What Lies Ahead

Oracle Corp (NYSE: ORCL) falls down to its knees, share dropped over 12.15% or $15.21 to trade at $111.50 in pre trading session on Tuesday as Wall Street's major indices experienced a tumultuous day, driven by Oracle's staggering 12.5%...

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