lululemon athletica (LULU) Tops Q3 EPS by 4c; Adj.-Comps Outpaced Views
lululemon athletica (NASDAQ: LULU) reported Q3 EPS of $0.47, $0.04 better than the analyst estimate of $0.43. Revenue for the quarter came in at $544.4 million versus the consensus estimate of $540.23 million.
Total comps, including DTC ex. FX, rose 7 percent, versus a 5.4 percent gain expected.
lululemon athletica sees Q4 2016 EPS of $0.96-$1.01, versus the consensus of $1.01. lululemon athletica sees Q4 2016 revenue of $765-785 million, versus the consensus of $787.1 million.
lululemon athletica sees FY2016 EPS of $2.18-$2.23, versus the consensus of $2.12. lululemon athletica sees FY2016 revenue of $2.32-2.34 billion, versus the consensus of $2.34 billion.
The Company also announced that its board of directors has approved a stock repurchase program for up to $100 million of its common shares in the open market at prevailing market prices. The timing and actual number of common shares to be repurchased will depend upon market conditions and other factors, in accordance with Securities and Exchange Commission requirements. The stock repurchase program is intended to create shareholder value by making opportunistic repurchases during periods of favorable market conditions. Shares may be repurchased from time to time on the open market, through block trades or otherwise. Purchases may be started or stopped at any time without prior notice depending on market conditions and other factors.
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