lululemon (LULU) Shares Surge Following Strong Q1 Earnings, Improved Outlook
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Price: $360.00 -1.26%
Revenue Growth %: +10.0%
Financial Fact:
Cost of goods sold: 265.99M
Today's EPS Names:
FRSB, DGICA, UXIN, More
Revenue Growth %: +10.0%
Financial Fact:
Cost of goods sold: 265.99M
Today's EPS Names:
FRSB, DGICA, UXIN, More
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lululemon athletica inc. (Nasdaq: LULU) shares are catching a bid pre-market Friday following strong first-quarter earnings results and guidance from the Vancouver, BC-based maker of athletic apparel.
Revenue for lululemon increased 35 percent from $138.30 million to $186.78 million. Consensus pegged revs at a more modest $181.30 million. Comparable-store sales jumped 16 percent.
Net income in the quarter popped 71 percent to $33.52 million, or 46 cents per diluted share, beating consensus views calling for earnings of 38 cents per share.
Gross margin increased from 53.8 to 58.7 percent.
CEO Christine Day said the company has had a "very successful first quarter considering our lean inventory levels. We were able to generate strong sales and earnings growth while also focusing on a successful transition of our e-Commerce platform in-house. While cautious about the macro-environment, we remain confident that our business momentum will continue through FY11."
Looking ahead, lululemon sees second-quarter earnings of 42 to 44 cents per share on revenue of $200 to $205 million. The Street is looking for earnings of 40 cents per share on sales of $197.48 million. For its fiscal year 2011, lululemon now sees revs of $915 to $930 million and EPS of $2.10 to $2.16, versus Street consensus revs of $916.71 million and EPS of $2.04. The company had previously guided earnings to $1.90-$2.00 per share on sales of $885-$900 million.
lululemon is up about 6 percent ahead of the bell; the stock last traded at $90.90.
Revenue for lululemon increased 35 percent from $138.30 million to $186.78 million. Consensus pegged revs at a more modest $181.30 million. Comparable-store sales jumped 16 percent.
Net income in the quarter popped 71 percent to $33.52 million, or 46 cents per diluted share, beating consensus views calling for earnings of 38 cents per share.
Gross margin increased from 53.8 to 58.7 percent.
CEO Christine Day said the company has had a "very successful first quarter considering our lean inventory levels. We were able to generate strong sales and earnings growth while also focusing on a successful transition of our e-Commerce platform in-house. While cautious about the macro-environment, we remain confident that our business momentum will continue through FY11."
Looking ahead, lululemon sees second-quarter earnings of 42 to 44 cents per share on revenue of $200 to $205 million. The Street is looking for earnings of 40 cents per share on sales of $197.48 million. For its fiscal year 2011, lululemon now sees revs of $915 to $930 million and EPS of $2.10 to $2.16, versus Street consensus revs of $916.71 million and EPS of $2.04. The company had previously guided earnings to $1.90-$2.00 per share on sales of $885-$900 million.
lululemon is up about 6 percent ahead of the bell; the stock last traded at $90.90.
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