Lululemon Q1 earnings outpace analyst expectations, company ups 2019 guidance
|Toronto Star 12 Jun 2019 at 13:24|
VANCOUVER - Lululemon Athletica Inc.’s revenue rose 20 per cent during its most recent quarter, outpacing analyst expectations.
The athleisure retailer says its net revenue for the first quarter totalled $782.3 million, up from $649.7 million in the same quarter the previous year.
Analysts surveyed by Thomson Reuters Eikon expected $755.31 million for the quarter ended May 5.
Its net income was $96.6 million for the quarter or 74 cents per share, up from $75.2 million in the same quarter the previous year.
Analysts expected net income of $92.35 million or 70 cents per share, and adjusted net income of $92.74 million, also 70 cents per share.
The company raised its guidance for the full financial year to between $3.73 billion and $3.77 billion in revenue or $4.51 to $4.58 diluted earnings per share.