Lululemon Athletica Inc LULU is trading significantly higher Thursday after the company announced better-than-expected second-quarter financial results and issued guidance above estimates.
Lululemon reported quarterly earnings of $1.65 per share, which beat the estimate of $1.18 per share. The company reported quarterly revenue of $1.5 billion, which beat the estimate of $1.33 billion.
Lululemon expects third-quarter earnings to be in a range of $1.28 per share to $1.33 per share versus the estimate of $1.32 per share. The company expects third-quarter revenue to be in a range of $1.4 billion to $1.43 billion versus the estimate of $1.32 billion.
"Our second quarter results demonstrate the continued momentum across the business, and how we are living into our Power of Three growth plan and Impact Agenda commitments," said Calvin McDonald, CEO of Lululemon.
"Our performance in Q2 was driven by a strong response to our product offering, improving productivity in our stores, and sustained strength in e-commerce," said Meghan Frank, CFO of Lululemon.
LULU Price Action: Lululemon is making a new all-time high in premarket trading today.
The stock was up 12.40% at $427.94 at time of publication.
Photo: Mike Mozart from Flickr.
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