Lulu beats expectations
Lululemon Athletica Inc. beat expectations in its fourth-quarter fiscal report on Wednesday. The Vancouver-based company reported net income of $218.5 million. The Vancouver, British Columbia-based company…
From the Canada News Group archive. This article dates from Mar 27, 2019 and is preserved as first published.
Lululemon Athletica Inc. beat expectations in its fourth-quarter fiscal report on Wednesday.
The Vancouver-based company reported net income of $218.5 million.
The Vancouver, British Columbia-based company said it had net income of $1.65 per share. Earnings, adjusted for pretax expenses, came to $1.85 per share.
The results topped Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $1.74 per share.
The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $1.
The athletic apparel maker posted revenue of $1.17 billion in the period, also surpassing Street forecasts. Eleven analysts surveyed by Zacks expected $1.15 billion.
For the year, the company reported profit of $483.8 million, or $3.61 per share. Revenue was reported as $3.29 billion.
For the current quarter ending in May, Lululemon said it expects revenue in the range of $740 million to $750 million. Analysts surveyed by Zacks had expected revenue of $745 million.
The company expects full-year earnings to be $4.48 to $4.55 per share, with revenue ranging from $3.7 billion to $3.74 billion.
Lululemon shares have risen 21 per cent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $146.80, an increase of 87 per cent in the last 12 months.
