Attire and footwear firm Lululemon Athletica Inc LULU reported second-quarter monetary outcomes after market shut Thursday. Listed below are the important thing highlights for traders.
What Occurred: Lululemon reported second-quarter income of $1.9 billion, up 29% year-over-year. The income whole got here in forward of a Avenue estimate of $1.76 billion, based on knowledge from Benzinga Professional.
Adjusted earnings per share within the second quarter have been $2.20, beating a Avenue estimate of $1.86.
Lululemon reported comparable gross sales up 23% year-over-year within the second quarter. Direct-to-consumer income was up 30% year-over-year within the second quarter for the corporate. Direct-to-consumer income represented 42% of the corporate’s whole within the second quarter.
Income for the North American phase was up 29% year-over-year. Income for the worldwide phase was up 35% year-over-year within the second quarter.
“The momentum in our enterprise continued within the second quarter, fueled by the robust visitor response to our product improvements, neighborhood activations and omni expertise,” Lululemon CEO Calvin McDonald mentioned.
Lululemon purchased 400,000 shares of its inventory within the second quarter at a median of $298.38 for a complete of $125.three million.
Lululemon opened 21 internet new company-owned shops within the second quarter, bringing the whole to 600.
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What’s Subsequent: Lululemon is guiding for third-quarter income to be in a spread of $1.78 billion to $1.805 billion, forward of a Avenue estimate of $1.73 billion based on knowledge from Benzinga Professional. The corporate is projecting third-quarter earnings per share in vary of $1.90 to $1.95, forward of a Avenue estimate of $1.78.
“As we glance forward, we’re enthusiastic about our means to efficiently ship towards our Energy of Three x2 development plan and create ongoing worth for all our stakeholders,” McDonald mentioned.
For the complete fiscal 12 months, Lululemon sees income hitting $7.865 billion to $7.940 billion, which represents a three-year compounded annual development charge of 26%. The Avenue estimate for income is $7.69 billion.
Full-year earnings per share are estimated to be $9.75 to $9.90 versus a Avenue estimate of $9.44.
LULU Worth Motion: Lululemon shares are up 8.97% to $294.45 in after-hours buying and selling on Thursday. Shares have traded between $251.51 and $485.83 over the previous 52 weeks.
Picture: Courtesy Lululemon