Lululemon on Tuesday reported revenue and profit for the holiday quarter that topped analysts’ estimates, boosted by the athletic apparel maker’s online business, and double-digit sales growth in both its women’s and men’s divisions.
It also offered an upbeat outlook for sales during the current quarter, anticipating consumer demand for its sweat-wicking leggings and sports bras will continue.
Its shares were up about 1% in afterhours trading.
Here’s how Lululemon did during the quarter ended Jan. 31 compared with what analysts were expecting, based on a poll by Refinitiv:
- Earnings per share: $2.58 adjusted vs. $2.49 expected
- Revenue: $1.73 billion vs. $1.66 billion expected
Lululemon reported net income of $329.8 million, or $2.52 per share, compared with net income of $298 million, or $2.28 per share, a year earlier. Excluding one-time items, the company earned $2.58 per share, better than the $2.49 expected by analysts.
Its revenue spiked roughly 24% to $1.73 billion from $1.4 billion a year earlier. That topped expectations for $1.66 billion.
Lululemon now expects first-quarter revenue to be in a range of $1.10 billion to $1.13 billion, compared with analysts’ average estimate of $999.5 million, according to Refinitiv.
Lululemon’s shares are down about 8% year to date, as of Tuesday’s market close. Lululemon has a market cap of $41.3 billion.
This story is developing. Please check back for updates.