lululemon athletica (LULU) Tops Q3 EPS by 4c; Guides Below the Street

lululemon athletica (NASDAQ: LULU) reported Q3 EPS of $0.42, $0.04 better than the analyst estimate of $0.38. Revenue for the quarter came in at $419.4 million versus the consensus estimate of $426.95 million.

Total comparable sales, which includes comparable store sales and direct to consumer, increased by 3% for the third quarter on a constant dollar basis. Comparable store sales for the third quarter decreased by 3% on a constant dollar basis and direct to consumer revenue increased 27% on a constant dollar basis

lululemon athletica sees Q4 2014 EPS of $0.65-$0.69, versus the consensus of $0.72. lululemon athletica sees Q4 2014 revenue of $570-585 million, versus the consensus of $593.54 million.

lululemon athletica sees FY2014 EPS of $1.74-$1.78, versus the consensus of $1.77. lululemon athletica sees FY2014 revenue of $1.765-1.78 billion, versus the consensus of $1.79 billion.

Laurent Potdevin, lululemon’s CEO, stated: "I am pleased that our third quarter results demonstrated sequential improvements as the quarter progressed, with all key facets of our business - brand, guest experience, and product - contributing to our momentum." Mr. Potdevin continued: "I am confident that our strong team, coupled with strategic investments into our core business areas, have already made a positive impact and place us on a strong trajectory for further global growth."

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