Companies and Brands
Lululemon Makes a Case for Itself Ahead of Earnings
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Lululemon Athletica Inc. (NASDAQ: LULU) released an update regarding its fiscal fourth-quarter financial results before the markets opened on Monday. Note that Lululemon’s quarter ends on February 3, 2019.
The company said that it expects to see earnings per share (EPS) in the range of $1.72 to $1.74 and revenue between $1.14 billion and $1.15 billion. Comparable sales are expected to increase in the mid-to-high teens.
Lululemon’s previous guidance called for EPS of $1.64 to $1.67 and revenue of $1.115 billion to $1.125 billion, with comparable sales increasing in the high-single to low-double digits.
The consensus estimates from Thomson Reuters called for $1.70 in EPS and $1.13 billion in revenue. The same period of last year had EPS of $1.33 on $1.15 billion in revenue.
Calvin McDonald, CEO of Lululemon, commented:
The momentum in our business remained strong throughout the holiday season, reflecting the ongoing success of our product offerings and our connection with guests around the globe. I speak for the entire leadership team in thanking all our teams around the world for delivering a strong 2018.
Excluding Monday’s move, Lululemon had made a strong push forward, with its shares up about 9% year to date. In the past 52 weeks, the stock was up over 67%.
Shares of Lululemon were last seen up about 5% at $139.00, in a 52-week range of $74.90 to $164.79. The consensus analyst price target is $159.79.
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