Pedestrians wearing 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 Thursday that fiscal first quarter revenue rose 88%, beating analysts’ estimates, as buyer traffic in its stores steadily increased.
The sportswear maker also gave a strong forecast for the second fiscal quarter and raised its estimates for the full year as momentum for its brand builds across all regions.
The stock rose 1% on the news in expanded trading.
Here’s how Lululemon performed in the reporting period ending May 2, compared to analyst expectations based on a refinitive survey:
- Earnings per share: adjusted 1.16 US dollars vs. 91 cents expected
- Revenue: $ 1.23 billion versus an expected $ 1.13 billion
Net income rose to $ 145 million, or $ 1.11 per share, from $ 28.6 million, or 22 cents per share, last year. With no one-time fees, Lululemon made $ 1.16 per share, better than analysts’ estimate of 91 cents per share.
Revenue increased from $ 652 million a year ago to $ 1.23 billion. That was above expectations of $ 1.13 billion.
For the second fiscal quarter, Lululemon expects adjusted earnings per share in a range of 1.10 to 1.15 US dollars on sales of 1.3 to 1.33 billion US dollars. According to a refinitive poll, analysts had expected earnings of $ 1.01 per share on sales of $ 1.20 billion.
For the year, adjusted earnings are expected to be $ 6.73 to $ 6.86 per share on revenue of $ 5.83 to $ 5.91 billion. Analysts had expected earnings of $ 6.48 per share on sales of $ 5.68 billion.
Previously, Lululemon had claimed revenue of $ 5.55 billion to $ 5.65 billion for fiscal 2021.
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