Lululemon Athletica Inc. (NASDAQ:LULU) had one of its best quarters yet as the company posted its latest results late Thursday, beating analysts’ expectations in the revenue and earnings front.
The yoga apparel retailer unveiled first-quarter adjusted earnings of 55 cents per share, coming in ahead of the 46 cents per share that analysts were calling for in adjusted earnings. The company posted strong revenue as well at $649.7 million, better than the $616 million that Wall Street was projecting.
Lululemon Athletica also had a big quarter in its stores as its total comparable sales were up by 20% compared to the year-ago quarter, while analysts were projecting that the company’s comparable sales would gain 12.5%, according to data compiled by Consensus Metrix.
The company’s total same-store sales were also a strong point in its latest quarter, gaining 8% compared to the year-ago quarter, better than the Consensus Metrix projection of a 3.5% gain. Lululemon Athletica’s direct-to-consumer revenue gained by 62% compared to the year-ago quarter.
For the current quarter, the company projects adjusted earnings in the range of 46 cents to 48 cents per share, compared to the Zacks Investment Research outlook of adjusted earnings of 45 cents per share. The retailer sees revenue for the period in the range of $660 million to $665 million, also ahead of the Zacks guidance of $651 million in sales.
LULU shares fell during regular trading hours by more than 0.5%, but the stock recovered and soared about 6.6% after the bell following the company’s impressive earnings results.