Lululemon Athletica Inc. (NASDAQ: LULU) shares saw a great gain early Friday after the company announced its most recent quarterly results Thursday afternoon. The company said that it had $0.71 in earnings per share (EPS) and $724 million in revenue for the fiscal second quarter. That compares with consensus estimates of $0.49 in EPS and $669 million in revenue, as well as the $0.36 per share and $581.05 million posted in the same period of last year.
During the most recent quarter, total comparable sales increased 20%, or increased 19% on a constant dollar basis. Comparable store sales increased 10%, or increased 10% on a constant dollar basis.
At the same time, direct to consumer net revenue increased 48%, or 47% on a constant dollar basis. Excluding the impact of an online warehouse sale in 2017, direct to consumer net revenue increased 66%, or increased 65% on a constant dollar basis.
Looking ahead to the fiscal third quarter of 2018, the company expects to see EPS in the range of $0.65 to $0.67 and net revenue between $720 million and $730 million, with comparable sales increasing in the low teens on a constant dollar basis.
The consensus estimates call for $0.64 in EPS and $708.62 million in revenue, for the coming quarter.
Glenn Murphy, board chair, commented:
We are very pleased with the consistent performance of our business. On behalf of the Board, I want to welcome Calvin McDonald to lululemon and thank our management team for delivering these incredible results.
Shares of Lululemon closed Thursday at $137.00, with a consensus analyst price target of $130.82 and a 52-week trading range of $57.19 to $140.42. Following the announcement, the stock was up over 10% at $151.50 in early trading indications Friday.
Is Your Money Earning the Best Possible Rate? (Sponsor)
Let’s face it: If your money is just sitting in a checking account, you’re losing value every single day. With most checking accounts offering little to no interest, the cash you worked so hard to save is gradually being eroded by inflation.
However, by moving that money into a high-yield savings account, you can put your cash to work, growing steadily with little to no effort on your part. In just a few clicks, you can set up a high-yield savings account and start earning interest immediately.
There are plenty of reputable banks and online platforms that offer competitive rates, and many of them come with zero fees and no minimum balance requirements. Click here to see if you’re earning the best possible rate on your money!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
