[Editor’s note: A previous version of this story incorrectly stated Lululemon’s per-share earnings. It has since been updated.]
Lululemon’s (NASDAQ:LULU) earnings report for its fiscal fourth quarter of 2019 have LULU stock falling after-hours Thursday, despite the company’s per-share earnings of $2.28. This figure beats Wall Street’s estimate of $2.24 per share for the quarter. Revenue, too, came in higher — $1.4 billion in sales versus $1.38 billion expected.
However, Lululemon announced that it would not share its 2020 outlook due to uncertainty surrounding the Covid-19 pandemic. Further, the company’s CEO, Calvin McDonald, notes that stores in the U.S. will likely remain closed longer than its stores in China, and that stores will re-open on a “market-by-market basis.”
Here’s what else is worth mentioning from the most recent Lululemon earnings report.
- EPS is 38% higher year-over-year.
- Revenue comes in 19.7% higher than the $1.17 billion from year-ago period.
- Same-store sales increased 20% YOY.
- Digital, Men’s and Women’s sales all increased 41%, 32% and 17%, respectively, YOY.
McDonald also had this to say about his company’s earnings:
“2019 was a strong year for lululemon, as our teams executed against our Power of Three growth plan. We are now navigating an extraordinary environment, which is currently impacting our business. The strength of our brand and strong financial position will help us manage through the day-to-day, while continuing to effectively plan for and invest in our future.”
LULU stock was down 2.42% in Thursday’s after-hours session.
As of this writing, William White did not hold a position in any of the aforementioned securities.