LULU stock jumped after Lululemon reported earnings of $109.7 million during the fourth quarter, up fractionally from $109.4 million in the year-ago period. EPS came in at 75 cents, topping the 72 cents a share that Wall Street had anticipated, Reuters notes.
Quarterly net revenue was $521 million, up 7% from last year. Same-store sales slipped 2%, though overall sales climbed 4%.
For the first quarter, Lululemon said it expects earnings of between 31 and 33 cents per share. That disappointed analysts, who are looking for a profit of 38 cents per share.
LULU forecast first-quarter revenue between $377 million and $382 million, which also fell short of the $389.4 million that analysts have predicted.
Last week, LULU launched a line of casual wear for women, called “&Go.” The new line includes pants, tops and sundresses, priced between $50 and $200.
LULU stock closed at $48.23 per share on Wednesday. LULU stock has dropped more than 20% over the past 12 months.