Lululemon Shares Stretch Higher After Big Q4 Earnings Beat

Lululemon Athletica inc. LULU shares are trading higher after reporting a fourth-quarter earnings and sales beat.

The athleisure company reported earnings of $1.85, beating estimates by 11 cents. Sales came in at $1.167 billion, beating estimates by $167 million. The company also announced a $500 million buyback.

The company issued strong first quarter and 2019 earnings and sales guidance.

Highlights

• Comps up 6 percent year over year
• Net revenue increased 26 percent year over year
• Direct to consumer net revenue increased 37 percent year over year
• Gross profit increased 28 percent year over year

Lululemon's stock is up 9.2 percent at $160.02 in the after-hours session. The stock closed the regular trading session up 2.2 percent at $146.80.

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