lululemon athletica, inc. (LULU) Tops Q4 EPS by 3c; Issues Light FY14 Outlook
-- Comparable stores sales for the fourth quarter decreased by 2% on a constant dollar basis. Total comparable sales, including comparable stores and direct to consumer, increased 4% for the fourth quarter on a constant dollar basis.
-- Direct to consumer revenue increased 25% to $97.8 million, or 18.8% of total Company revenues, in the fourth quarter of fiscal 2013, an increase from 16.1% of total Company revenues in the fourth quarter of fiscal 2012.
Laurent Potdevin, lululemon’s CEO, stated: "In my first days as CEO, I have been inspired by the people at lululemon, and the passion that lies behind our product and our brand." Mr. Potdevin continued: "As we move into 2014, we are reflecting on our learnings with humility, and are entirely focused on our future. 2014 is an investment year with an emphasis on strengthening our foundation, reigniting our product engine, and accelerating sustainable and controlled global expansion. lululemon's magic has been built by creating technical beautiful product and sharing our distinct culture with our communities. The emotional connection that lululemon creates is at the heart of what we stand for, and we are being relentless in our commitment to delivering a distinct and authentic experience that is unlike any other."
lululemon sees Q1 2014 EPS of $0.31 - $0.33, versus the consensus of $0.38. The company also sees Q1 2014 revenue of $377 - $382 million, versus the consensus of $389.4 million.
lululemon sees FY2014 EPS of $1.80 - $1.90, versus the consensus of $2.14. The company also sees FY2014 revenue of $1.77 - $1.82 billion, versus the consensus of $1.82 billion.
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