Lululemon Athletica Inc. (NASDAQ: LULU) released its fiscal first quarter financial results after markets closed Wednesday. The company said that it had $0.74 in earnings per share (EPS) and $782.3 million in revenue, compared with consensus estimates that called for $0.70 in EPS and $755 million in revenue. The same period from last year had $0.55 in EPS and $649.71 million in revenue.
During the quarter, direct to consumer net revenue represented 26.8% of total net revenue compared to 24.3% for the first quarter of fiscal 2018. And year over year direct to consumer net revenue increased 33% or increased 35% on a constant dollar basis
At the same time, comparable store sales increased 6% or increased 8% on a constant dollar basis. Based on a shifted calendar, total comparable sales—including direct to consumer—increased 14%, or increased 16% on a constant dollar basis.
Looking ahead to the fiscal second quarter, the company expects to see EPS in the range of $0.86 to $0.88 and net revenue in the range of $825 million to $835 million. Consensus estimates are calling for $0.88 in EPS and $834.4 million in revenue for the coming quarter.
Calvin McDonald, CEO, commented:
Lululemon continues to see strong momentum across the entire business. I’m inspired by our teams who are executing at high levels, and I want to thank everyone across the globe for their passion and dedication to the brand. I look forward to the opportunities ahead of us, and delivering on our Power of Three five-year vision.
Shares of Lululemon closed Wednesday at $170.89, with a 52-week range of $110.71 to $179.50. The stock has a consensus analyst price target of $186.00. Following the announcement, the stock was up about 2% at $174.00 in the after-hours trading session.
Credit card companies are handing out rewards and benefits to win the best customers. A good cash back card can be worth thousands of dollars a year in free money, not to mention other perks like travel, insurance, and access to fancy lounges. See our top picks for the best credit cards today. You won’t want to miss some of these offers.
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.