Lululemon Athletica inc. LULU shares are trading higher Wednesday afternoon after reporting a first-quarter earnings beat.
Earnings came in at 74 cents per share, beating estimates by 4 cents. Sales came in at $782.3 million, beating estimates by $27.3 million.
Lululemon sees second-quarter earnings of 86-88 cents. The company also raised FY2019 earnings guidance from $4.48-$4.55 to $4.51-$4.58 and sales guidance from $3.7 billion-$3.74 billion to $3.73 billion-$3.77 billion.
"Lululemon continues to see strong momentum across the entire business," said CEO Calvin McDonald. "I'm inspired by our teams who are executing at high levels, and I want to thank everyone across the globe for their passion and dedication to the brand. I look forward to the opportunities ahead of us, and delivering on our Power of Three five-year vision."
Highlights
- Revenue up 20%
- Gross profit increased 22% year over year
- Comps were up 14%, 16% on a constant dollar basis
After initialing falling as much as 7%, lululemon shares traded higher by 3% to $176.40 in the after-hours session. The stock closed at $170.89 per share.
Related Links:
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.