Lululemon lifts full-year guidance after Q3 results top estimates

Investing.com -- Lululemon Athletica lifted its full-year guidance Thursday after reporting better-than-expected third-quarter results and the apparel brand increased its stock buyback plan by $1 billion.

Lululemon Athletica Inc (NASDAQ: LULU) was up 9% in afterhours trading following the report.

For the three months ended Oct. 27, Lululemon, the Canadian company known for its pricey leggings, reported earnings per share of $2.87 on revenue of $2.4 billion. Wall Street had anticipated EPS of $2.71 on revenue of $2.36B.

Comparable sales increased 4%, or 3% in constant dollar terms, underpinned by growth in international markets.

For Q4, the company expects diluted earnings per share in the range of $5.56 to $5.64 for the quarter on revenue of $3.48B to $3.51B, compared with Wall Street estimates for EPS of $5.6 on revenue of $3.5B.

For the full-year, the company said it now expected EPS in a range of $14.08 to $14.16 for the year, up from the prior $13.95 to $14.15 range, while net revenue was guidance to between $10.45B and $10.49B, up from the prior $10.38B and $10.48B.

The company said it approved a $1B increase to its stock repurchase program.

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