A Lululemon Athletica store in Pasadena, California.
Lululemon shares jumped nearly 9% in extended trading on Wednesday after the sportswear maker reported second-quarter earnings and earnings that beat analysts’ expectations.
The retailer also presented a better-than-expected outlook for the third quarter and year.
Here’s how the company fared compared to what Wall Street expected, using a Refinitiv survey of analysts:
- Earnings per share: $ 1.65 adjusted vs. $ 1.19 planned
- Turnover: $ 1.45 billion against $ 1.34 billion expected
Net income reached $ 208.1 million, or $ 1.59 per share, for the three-month period ended August 30. That’s up from $ 86.8 million a year ago, or 66 cents a share. Excluding one-off items, the company earned $ 1.65 per share. That’s better than the $ 1.19 wanted by analysts polled by Refinitiv.
Revenue rose 61% to $ 1.45 billion from $ 902.9 million a year ago. It was ahead of expectations of $ 1.34 billion.
Sales in North America increased 63% year-over-year and 49% internationally.
Lululemon shares are up around 9% year-to-date. Recently, the stock traded below the all-time high of $ 417.85, which was reached late last month. Lululemon’s market capitalization is approximately $ 50 billion.
Find the full press release on Lululemon’s results here.
This story is new. Please check for updates.