When Lululemon Athletica Inc. (NASDAQ: LULU) released its most recent quarterly results after the markets closed on Tuesday, the company said that it had $1.33 in earnings per share (EPS) on $928.8 million in revenue. Consensus estimates had called for $1.27 in EPS on revenue of $911.42 million. The same period of last year reportedly had EPS of $1.00 and $789.94 million in revenue.
During the quarter, total comparable sales increased 12%, or increased 11% on a constant dollar basis. Separately, comparable store sales increased 2%, or increased 1% on a constant dollar basis, and direct to consumer net revenue increased 44%, or increased 42%.
Looking ahead to the fiscal first quarter, the firm expects net revenue to be in the range of $612 million to $617 million, based on a total comparable sales increase in the low double digits on a constant dollar basis. Also, EPS is expected to be between $0.44 and $0.46. The consensus estimates call for EPS of $0.40 and $585.9 million in revenue for the quarter.
On the books, Lululemon cash and cash equivalents were at $990.5 million at the end of the quarter, up from $734.8 million at the end of the previous fiscal year.
Glenn Murphy, executive chairman of the board, commented:
We are pleased with our results for the fourth quarter and fiscal year 2017. The company continues to execute successfully on its global growth strategies and I would like to thank our entire team including Celeste, Stuart, and Sun for their leadership in driving this strong performance.
Stuart Haselden, chief operating officer, added:
We are seeing strong momentum across our business as we now move into 2018, which is further positioning us to achieve our 2020 revenue goal of $4 billion. Importantly, we would like to thank our store educators, ambassadors, and the lululemon collective around the world for their energy and passion that is enabling our continued success.
Shares of Lululemon closed Tuesday at $78.71, with a consensus analyst price target of $84.33 and a 52-week trading range of $47.26 to $83.98. Following the announcement, the stock was up nearly 7% at $84.05 in Wednesday’s early trading indications.
24/7 Wall St.Credit Card Companies Are Doing Something Nuts
Credit card companies are at war. The biggest issuers are handing out free rewards and benefits to win the best customers.
It’s possible to find cards paying unlimited 1.5%, 2%, and even more today. That’s free money for qualified borrowers, and the type of thing that would be crazy to pass up. Those rewards can add up to thousands of dollars every year in free money, and include other benefits as well.
We’ve assembled some of the best credit cards for users today. Don’t miss these offers because they won’t be this good forever.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
