Lululemon Athletica inc. (NASDAQ:LULU) continues to impress in its earnings as more and more people are becoming professional or casual yogis.
The company unveiled earnings of 56 cents per share on an adjusted basis during its third quarter, topping analysts’ expectations of 52 cents per share, according to Zacks Investment Research. A year ago, Lululemon earned 47 cents per share on an adjusted basis.
Revenue for the three months ended October 29, 2017 came in at $619 million, topping Wall Street’s consensus estimate of $609.9 million, according to Zacks. The figure marked a 14% increase year-over-year.
Comparable sales came in 8% higher a year ago, or 7% on a constant dollar basis. Comparable store sales were 2% better year-over-year, while direct to consumer net revenue gained 26% compared to the year-ago mark.
“As we start the holiday season, I’m energized by our momentum and we are increasing guidance to reflect this performance,” said Lululemon Athletica CEO Laurent Potdevin. “I’m grateful for the enthusiasm I see every day across our collective as we remain on our path to delivering $4 billion in revenue in 2020.”
For the fourth quarter of 2017, the company forecasts earnings in the range of $1.19 to $1.22 per share on an adjusted basis. Analysts are calling for earnings of $1.17 per share to close out the fiscal year.
In the revenue front, Lululemon Athletica predicts that it will rake in between $870 million and $885 million, which is also better than analysts’ expectations of $866.24 million.
LULU stock soared 6.3% after the bell Wednesday.