Lululemon Earnings: LULU Stock Surges on Q1 EPS, Sales Beat

Shares were sliding during regular trading hours

Lululemon (NASDAQ:LULU) unveiled its latest quarterly earnings results late on Wednesday, bringing in mostly positive figures that included a profit and revenue that surpassed what analysts called for in the Wall Street consensus estimate, lifting LULU shares more than 3% late in the day.

Lululemon EarningsThe athletic apparel retailer — based out of Vancouver, Canada — announced that for its first quarter of its fiscal 2019, it posted net income of $96.6 million, or 74 cents per share, marking an increase from its year-ago total of $75.2 million, or 55 cents per share. Analysts were calling for the business to bring in adjusted earnings of 70 cents per share.

Lululemon added that its revenue for the period came in at $782 million, which were stronger than the $755 million that Wall Street called for in its consensus estimate. The company also said that its same-store sales, which helps to depict how well a retailer’s business is going, surged 14% during the three-month period, ahead of the Refinitiv guidance of 11.6%.

“Lululemon continues to see strong momentum across the entire business,” wrote CEO Calvin McDonald. He also said that the company is in an optimistic state of mind about future opportunities and delivering on its five-year growth plan, which is designed to double men’s and digital revenues, while also quadrupling international sales.

LULU stock is surging roughly 3.6% on Wednesday after hours following the company’s quarterly earnings beat. Shares had fallen 0.4% during regular trading hours.


Article printed from InvestorPlace Media, https://investorplace.com/2019/06/lululemon-earnings-lulu-stock-3/.

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