Pedestrians in protective masks pass by the Lululemon store in San Francisco, California, on Monday, March 29, 2021.
David Paul Morris Bloomberg | Getty Images
Lululemon Athletica he said fiscal revenue rose 88% in the first quarter on Thursday, beating analysts’ estimates as customer turnover was steadily recovering from its stores.
The sportswear manufacturer also issued a strong forecast for its fiscal second quarter and raised estimates for the full year, saying momentum for its brand is growing in all countries.
Its share rose 1% in news of extended trading.
Here’s how Lululemon acted for the period ended May 2 compared to what analysts expected, based on the Refinitive survey:
- Earnings per share: adjusted $ 1.16 versus expected 91 cents
- Revenue: $ 1.23 billion compared to the expected $ 1.13 billion
Net income rose to $ 145 million, or $ 1.11 per share, from $ 28.6 million, or 22 cents per share, a year earlier. Excluding one-time costs, Lululemon earned $ 1.16 per share, better than 91 cents per share estimated by analysts.
Revenue rose to $ 1.23 billion from $ 652 million a year earlier. That came ahead of expectations of $ 1.13 billion.
For its fiscal second quarter, Lululemon expects adjusted earnings per share to range from $ 1.10 to $ 1.15, with sales of $ 1.3 to $ 1.33 billion. According to Refinitive’s research, analysts were looking for earnings of $ 1.01 per share on revenue of $ 1.20 billion.
Adjusted earnings of $ 6.73 to $ 6.86 per share are required for the year, and sales of $ 5.83 to $ 5.91 billion. Analysts had expected to earn $ 6.48 per share on sales of $ 5.68 billion.
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