When Lululemon Athletica Inc. (NASDAQ: LULU) reported its fiscal second-quarter late on Thursday, the company posted $0.39 in earnings per share (EPS) and $581.1 million in revenue. That compared with consensus estimates of $0.35 in EPS and revenue of $567.8 million.
During this quarter, total comparable sales increased 7%. Although, comparable store sales increased only 2%, direct to consumer net revenue increased 29%, or about 30% on a constant dollar basis.
In terms of the guidance for the coming quarter, management expects to see EPS in the range of $0.50 to $0.52 and net revenues between $605 million and $615 million. The consensus estimates are $0.52 in EPS and $608.77 million in revenue for the fiscal third-quarter.
On the books, Lululemon ended the quarter with $721.2 million in cash and cash equivalents, up from $535.3 million at the end of the second quarter of fiscal 2016.
Laurent Potdevin, Lululemon CEO, commented:
Our performance reflects the growing global consumer response to lululemon’s unique position as the leading brand that defines an active, mindful lifestyle. Through continuing to deliver category-defining product innovation, we are creating experiences that our guests, both existing and new, desire. This strong brand momentum reinforces my confidence in our long-term strategy.
Shares of Lululemon were last seen up about 6% at $61.20 on Friday, with a consensus analyst price target of $62.17 and a 52-week range of $47.26 to $72.70.
Travel Cards Are Getting Too Good To Ignore
Credit card companies are pulling out all the stops, with the issuers are offering insane travel rewards and perks.
We’re talking huge sign-up bonuses, points on every purchase, and benefits like lounge access, travel credits, and free hotel nights. For travelers, these rewards can add up to thousands of dollars in flights, upgrades, and luxury experiences every year.
It’s like getting paid to travel — and it’s available to qualified borrowers who know where to look.
We’ve rounded up some of the best travel credit cards on the market. Click here to see the list. Don’t miss these offers — they won’t be this good forever.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
