@Shop:Lululemon on Thursday reported sales and profit that topped estimates, but the company offered softer guidance than expected for the fourth quarter. Shares of the company fell more than 7% after hours. Lululemon's third-quarter net income rose to $255.5 million, or $2 per share, from $187.8 million, or $1.44 per share a year ago. Revenue rose 28% to $1.86 billion. Its total comparable sales increased by 22%. The closely watched metric, also called same-store sales, includes sales from stores that have been open continuously for at least 12 months, without temporary closures or renovations. Analysts expected a 19% increase, according to Street Account. The company's guidance for the fourth quarter came in weaker than hoped. Lululemon said Thursday it expects fourth quarter per-share earnings of $4.20 to $4.30, compared to estimates of $4.30. It also sees revenue of between $2.605 billion to $2.655 billion, versus a projected $2.649 billion. For the full year, the company said it sees revenue of $7.944 billion to $7.994 billion, up from its previous forecast of between $7.865 billion and $7.940 billion. It also raised its adjusted earnings per share outlook to a range of $9.87 to $9.97, from last quarter's guidance of $9.75 to $9.90. Shares of the company are down more than 4% so far this year. The stock has outperformed the S&P 500 Index, which is down about 17% during the same period. It closed Thursday at $374.51, bringing the market cap to $47.75 billion. @Daily_Discussion Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
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