Lululemon athletica (LULU) Updates Q4 Earnings Guidance

Lululemon athletica (LULU) Updates Q4 Earnings Guidance

The latest earnings release Lululemon Athletica Inc's (NASDAQ:LULU) announced in July 2017 confirmed that the company experienced a robust tailwind, leading to a double-digit earnings growth of 14.03%. The revenue gains were led by a 26 percent hike in online sales. (LULU) PT Raised to $75 at BofA/Merrill Lynch ..." with publication date: "November 27, 2017. The company's quarterly revenue was up 12.0% compared to the same quarter a year ago. On a constant dollar basis, net revenue increased 12 percent. 1 analysts call it Underweight, while 2 think it is Overweight. Also, in a reversal from the past several years, foreign currency impacts actually helped the company's results, adding about two percentage points to sales and a single percentage point to the retailer's comps.

Lululemon also said innovative new fabrics used in its women's trousers, launched in the third quarter, were a hit with customers, improving sales in the category by 24 percent. The figure marked a 14% increase year-over-year. The firm has "Buy" rating given on Thursday, March 31 by Citigroup.

Total shares held by institutions as of the most recent company filings are 48,943,375 with a reported 1,340,059 bought and 3,008,616 sold. The company provided earnings per share guidance of $1.19-1.22 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.17.

The company repurchased 0.1 million shares of its own common stock at an average cost of $60.27 per share, completing the previous $100 million stock repurchase program which commenced in December 2016.

The results topped Wall Street expectations. With an institutional ownership near 0%, it carries an earnings per share ratio of -5.27. Excluding the impact of the Ivivva restructuring, adjusted diluted earnings per share was expected to be in the range of 50 to 52 cents for the quarter.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. "The strength of our Q3 earnings supports our unique position as the global brand defining an active, mindful lifestyle".

"As we start the holiday season, I'm energized by our momentum and we are increasing guidance to reflect this performance. I'm grateful for the enthusiasm I see every day across our collective as we remain on our path to delivering $4 billion in revenue in 2020". Shareholders shouldn't expect that Lululemon will have put all of its issues behind it for good, but the company is still doing a good job of avoiding some of the pressures that its peers in the athletic apparel space have suffered, and future growth looks likely in fiscal 2018 and beyond. This primarily relates to long-lived asset impairment and lease termination costs. Finally, BMO Capital Markets set a $55.00 price target on shares of lululemon athletica and gave the company a "hold" rating in a research report on Tuesday, August 8th. To calculate this rate, I've appended a line of best fit through analyst consensus of forecasted earnings. Over the past week, shares are 1.18%. Da Davidson And reported 2,950 shares. Credit Agricole S A reported 30,785 shares. Diluted earnings per share was expected to be in the range of $2.04 to $2.11 for the full year.

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