Pedestrians in protective masks walk past a Lululemon store in San Francisco, California, on Monday, March 29, 2021.
David Paul Morris | Bloomberg | Getty Images
Lululemon Athletica said its fiscal first quarter revenue rose 88% Thursday, surpassing analyst estimates, as shoppers steadily returned to its stores.
The athletic apparel 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 regions.
The stock rose 1% on the news in extended trading.
Here’s how Lululemon fared for the period ending May 2, compared to what analysts expected, based on a Refinitiv survey:
- Earnings per Share: $1.16 Adjusted vs. 91 Cents Expected
- Revenue: $1.23 Billion vs $1.13 Billion Expected
Net income grew to $145 million, or $1.11 a share, from $28.6 million, or 22 cents a share, a year earlier. Excluding one-time expenses, Lululemon earned $1.16 a share, better than the 91 cents a share that analysts had estimated.
Revenue rose to $1.23 billion, from $652 million a year earlier. That came in above expectations at $1.13 billion.
For its fiscal second quarter, Lululemon expects adjusted earnings per share to be in the range of $1.10 to $1.15 on revenue of $1.3 billion to $1.33 billion. Analysts were looking for earnings of $1.01 a share on revenue of $1.20 billion, according to a survey by Refinitiv.
For the year, it claims adjusted earnings of $6.73 to $6.86 per share, on revenue of $5.83 billion to $5.91 billion. Analysts expected it to earn $6.48 a share on revenue of $5.68 billion.
Find the full press release on Lululemon’s earnings here.
This story is evolving. Come back for updates.