Lululemon (NASDAQ:LULU) reported its latest quarterly earnings results late today, bringing in earnings and revenue that impressed, playing a role in LULU shares soaring after hours on Wednesday.
The Vancouver, Canada-based yoga apparel retailer brought in net income of $218.5 million, or $1.65 per share for its fourth quarter, marking an increase of nearly $100 million from the $119.8 million, or 88 cents per share from the year-ago quarter. On an adjusted basis, the business earned $1.85 per share, 11 cents above the Wall Street consensus estimate, according to a survey conducted by Refinitiv.
Lululemon amassed revenue of $1.17 billion, topping the $928 million from the year-ago quarter, while also edging the $1.15 billion that analysts predicted, per Refinitiv. Same store sales increased 16% year-over-year, meeting estimates, while sales at stores open at least 12 months gained 16%, meeting the guidance.
“Lululemon has delivered one of its strongest years yet, a result of broad-based strength across the business,” CEO Calvin McDonald said in a press release. “We are energized to build upon our momentum and to seize the many opportunities ahead for Lululemon around the world.”
For its fiscal 2019, the retailer predicts a profit of $4.48 to $4.55 per share, eclipsing the $4.40 per share Wall Street outlook. Revenue is slated to be between $3.7 billion and $3.74 billion, also ahead of the Wall Street projection of $3.27 billion.
LULU stock is up about 9.1% after hours following the company’s strong quarterly performance. Lululemon’s shares were up 2.3% during regular trading hours Wednesday in anticipation of the company’s results.