lululemon (LULU) Tops Q3 Views, But Weak Q4 Outlook Pauses Investors
Revs in the period rose 37.5 percent to $316.54 million, from $230.22 million last year. Comps rose 18 percent in the quarter. Net income improved 48 percent to $57.32 million, or 39 cents per share.
The Street was looking for revs of $305.2 million and EPS of 37 cents.
Revs were bolstered by an 89 percent rise in direct-to-customer sales while a lower tax rate of 30.1 percent aided bottom-line improvement.
Looking ahead, lululemon said it sees fourth-quarter sales of $475 million to $480 million and EPS of 71 cents to 73 cents. Consensus views call for revs of $490.45 million and EPS of 75 cents.
Fiscal 2012 revs outlook moved from $1.345 billion to $1.360 billion up to a range of $1.36 billion to $1.37 billion. EPS expectations rose from $1.76 to $1.81 up to a new range of $1.81 to $1.83. The Street is at revs of $1.36 billion and EPS of $1.82.
Shares are down about 3.0 percent early.