lululemon athletica (LULU) Reports In-Line Q2 EPS; Comps Outpaced Views
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lululemon athletica (NASDAQ: LULU) reported Q2 EPS of $0.38, in-line with the analyst estimate of $0.38. Revenue for the quarter came in at $514.5 million versus the consensus estimate of $515.47 million.
Adjusted comps rose 4 percent, versus a gain of 2.8 percent expected.
For the third quarter of fiscal 2016, we expect net revenue to be in the range of $535 million to $545 million based on total comparable sales in the mid-single digits on a constant dollar basis. Diluted earnings per share are expected to be in the range of $0.42 to $0.44 for the quarter. This guidance assumes 137.5 million diluted weighted-average shares outstanding and a 30.5% tax rate.
*** The Street sees Q316 revenue of $541.8 million and EPS of $0.44.
For the full fiscal 2016, we now expect net revenue to be in the range of $2.325 billion to $2.350 billion based on total comparable sales in the mid-single digits on a constant dollar basis. Diluted earnings per share are expected to be in the range of $2.11 to $2.19 for the full year, or $2.07 to $2.15 normalized for the tax and related interest adjustments made during the first two quarters of fiscal 2016.
*** The Street sees FY16 revenue of $2.34 billion and EPS of $2.15.
For earnings history and earnings-related data on lululemon athletica (LULU) click here.
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