A Lululemon sign is seen at a shopping mall in San Diego, California, November, 23, 2022.
Mike Blake | Reuters
Lululemon on Tuesday reported strong holiday-quarter sales, suggesting wealthier shoppers are still purchasing yoga pants and tops despite rising prices for essential goods.
The company also issued upbeat guidance for its new fiscal year.
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Shares of Lululemon jumped about 11% in after-hours trading following the report. Through Tuesday’s close, the stock is about flat for the year, putting the company’s market value at $40.87 billion.
Here’s what the company reported for the three-month period ended Jan. 29, compared with Wall Street expectations based on a survey of analysts by Refinitiv:
- Earnings per share: $4.40 adjusted vs $4.26 expected
- Revenue: $2.77 billion vs. $2.7 billion expected
Lululemon’s fourth-quarter net income fell to $119.8 million, or 94 cents per share, from $434.5 billion, or $3.36 per share, a year ago. Excluding impairment and other…
2023-03-28 16:27:17
Article from www.cnbc.com