- Lululemon beat on both the top and bottom lines.
- The company raised its full-year 2017 adjusted earnings per share guidance.
- Shares climbed more than 7% on the results.
Lululemon beats on earnings and raises its guidance (LULU)
Shares climbed more than 7% after the results crossed.
Lululemonshares climbed more than 7% in after-hours trading on Wednesday after the company reported better than expected top and bottom line results and raised its guidance.
The athletic-apparel retailer earned an adjusted $0.56 a share, handily beating the $0.52 that Wall Street analysts surveyed by Bloomberg were anticipating.
Revenue rose 14% versus a year ago to $619 million while total comparable sales, including direct to consumer and in-store sales, jumped 8% year-over-year.
Lululemon raised its full-year 2017 adjusted earnings per share guidance to a range between $2.45 and $2.48, up from its previous guess of $2.35 to $2.42.
$4 billion
Additionally, Lululemon's board of directors authorized a $200 million share buyback program.
Shares of the company are up 7.33% this year.
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