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Lululemon stock jumps 3% after earnings, sales top estimates

Category: Finance,Retail

The men's assormtment on the inside of a Lululemon store.

Source: Lululemon

Lululemon on Wednesday reported first-quarter earnings and sales that outpaced analyst estimates, sending shares up nearly 3% in after-hours trading.

Here's what the retailer reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

  • Earnings per share: 74 cents per share, vs. 70 cents per share, expected
  • Revenue: $782 million, vs. $755 million, expected

For the first quarter ended May 5, net income rose to $96.6 million, or 74 cents a share, from $75.2 million, or 55 cents a share.

Lululemon shares as of Wednesday's market close have surged more than 40% this year. The stock at the end of April hit an all-time high of $179.50 per share but more recently has fallen back down to around $170.

"Lululemon continues to see strong momentum across the entire business," Chief Executive Officer Calvin McDonald wrote in a press release. 

This is a developing story. Please check back for updates.

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