Lululemon sees earnings growth at 'high end' of expectations, but stock falls
Lululemon Athletica Inc. LULU, -0.50% said Monday it now expects year-over-year growth in fiscal fourth-quarter adjusted earnings per share and revenue to be at the "high end" of its previous guidance ranges…
From the Equity Insider archive. This article dates from Jan 11, 2021 and is preserved as first published.
Lululemon Athletica Inc. LULU, -0.50% said Monday it now expects year-over-year growth in fiscal fourth-quarter adjusted earnings per share and revenue to be at the “high end” of its previous guidance ranges. The yoga gear maker had previously said it expected fourth-quarter revenue growth in the mid-to-high teens percentage range and adjusted EPS growth in the mid-single digits.
The FactSet EPS consensus of $2.49 implies growth of 9.2% and the revenue consensus of $1.66 billion implies 18.5% growth. “We’re pleased with the momentum over the holiday period as our investments in Lululemon and MIRROR allowed us to connect with guests both physically and digitally,” said Chief Executive Calvin McDonald. The stock fell 2.3% in premarket trading. It has gained 5.5% over the past three months through Friday, while the S&P 500 SPX, +0.55% has advanced 10.0%.
