Lululemon Athletica reports solid fiscal first-quarter earnings as online sales boom

Yoga wear proved to be wildly popular in the three months until April’s end
Lululemon logo
Lululemon shares have more than doubled over the past year

Lululemon Athletica Inc (NASDAQ:LULU), the yoga-wear maker, crushed Wall Street’s profit and revenue estimates for its fiscal first quarter due to booming online sales.

Investors welcomed the results in after-hours trading and pushed up shares of Lululemon, which have more than doubled in the last year, by 4% to US$105.05.

On a per-share basis, Lululemon earned US$0.55 on revenue of US$649.7mln. These figures trounced Wall Street’s consensus expectation of US$0.46 on revenue of US$616.3mln.

“Our momentum remains strong and we are optimistic for 2018 and beyond,” said Stuart Haselden, chief operating officer, in a statement.

Read: Lululemon Athletica's chief executive resigns over misconduct

Yoga wear proved to be wildly popular in the three months until April’s end, with total comparable sales jumping 20% in the quarter from last year. But more clothes were sold online as net revenue from direct to consumer sales climbed 62%.

Lululemon ended its first fiscal quarter with US$966.6mln in cash compared with US$698.3mln at the end of last year’s first fiscal quarter.

The company expects its fiscal full-year earnings to range between US$3.10 and US$3.18, ahead of the consensus estimate of US$3.10. It also forecasts rosy revenue figures of US$3.04bn to US$3.075bn, which are way ahead of Wall Street’s projection of US$3.02bn.

View full LULU profile View Profile

Lululemon Athletica Timeline

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You understand that the Company receives either monetary or securities compensation for our services. We stand to benefit from any volume this write-up may generate.

You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Copyright © personabelovo.ru, 2018. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated.