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Lululemon Trades Higher On Q1 Earnings Beat, Raised Guidance

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Lululemon Trades Higher On Q1 Earnings Beat, Raised Guidance

Lululemon Athletica inc. (NASDAQ: 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:

Lululemon Analyst Cuts Estimates But Remains Bullish

Analysts Raving About Lululemon's Big Quarter

Posted-In: Calvin McDonaldEarnings News Guidance Top Stories After-Hours Center Movers Trading Ideas Best of Benzinga

 

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