Lululemon Slides By With Q1 Earnings

By Chris Lange Updated Jan 30, 7:43PM EST · Published Jun 12, 4:18PM EDT

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Lululemon Slides By With Q1 Earnings — © sshaw75 / Getty Images

Lululemon Athletica Inc. (NASDAQ: LULU | LULU Price Prediction) 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.

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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.

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About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.