Lululemon shares jumped late Wednesday after the retailer reported better-than-expected first-quarter results.
Profits and revenue topped analysts’ expectations, though guidance came in lower than expected.
Shares have risen 40% this year, handily outperforming the broader market.
Watch Lululemon trade live.
Lululemon reported a second-straight quarter that impressed investors, sending shares higher by 3% late Wednesday.
The athleisure retailer’s first-quarter profits and sales topped analysts’ expectations, while its full-year earnings-per-share guidance came in lighter than was forecast. The strong headline numbers followed last quarter’s blowout results that sent the stock soaring back in March.
“Lululemon continues to see strong momentum across the entire business,” Calvin McDonald, the company’s chief executive officer, said in the statement.
The quarterly results highlight Lululemon shares’ breakneck rally in recent years as the market has bet on investors embracing athletic apparel, as well as the company’s push beyond its core women’s athleisure offerings. The stock has soared 230% over the past two years, handily outperforming the broader market’s 19% gain during that time.
Here’s what Lululemon reported ,compared with what analysts surveyed by Bloomberg were expecting:
Revenue: $782.3 million ($756 million expected)
Adjusted earnings per share: $0.74 ($0.70 expected)
Full-year EPS guidance: $4.51 to $4.58 (the company originally …read more
Source:: Businessinsider – Finance