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Lululemon stock jumps after strong earnings, raises full-year guidance
CNBC
Wed, 12 Jun 2019 21:22

Lululemon stock jumps after strong earnings, raises full-year guidance

CNBC
Wed, 12 Jun 2019 21:22

The mens assormtment on the inside of a Lululemon store.

Lululemon stock jumps after strong earnings, raises full-year guidance


Source: Lululemon
Lululemon on Wednesday reported first-quarter earnings and sales that outpaced analyst estimates, sending shares up nearly 4% in after-hours trading.

Heres what the athletic apparel maker reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

Earnings per share: 74 cents per share, vs. 70 cents per share, expected

Revenue: $782 million, vs. $755 million, expected
The company also raised its full-year guidance. It expects revenue between $3.73 billion and $3.77 billion, and earnings per share between $4.51 and $4.58 in 2019.

For the first quarter ended May 5, net income rose to $96.6 million, or 74 cents a share, from $75.2 million, or 55 cents a share.

Lululemon shares, as of Wednesdays market close, have surged more than 40% this year. The stock at the end of April hit an all-time high of $179.50 per share, but more recently has fallen back down to around $170.

Same-store sales, a key indicator for the retailers business, grew 14%, beating a Refinitiv consensus estimate for 11.6%.

"Lululemon continues to see strong momentum across the entire business," wrote Chief Executive Officer Calvin McDonald.

He added that Lululemon was optimistic about future opportunities and delivering on its five-year growth plan, which aims to double mens and digital revenues, and to quadruple international revenues.