Lululemon Athletica Inc (NASDAQ:LULU), the upscale Canadian yoga-wear maker, once again crushed Wall Street’s profit and revenue estimates for its fiscal second-quarter and lifted its full-year guidance, helped by booming online sales.
On a per-share basis, the Vancouver-based company posted earnings of $95.8mln, or US$0.71 per share, on revenue of US$723.5mln. These results flew past the market consensus estimate of US$0.49 on revenue of US$667.94mln.
Pleased by the results, investors sent Lululemon shares up 7.7% to US$147.65 in Thursday's after-hours session.
Their bullishness continued in the premarket on Friday, with shares up nearly 11% to US$151.89, having settled on Thursday down 1.23% at US$137.
Lululemon’s total comparable sales, which includes cyber-transactions, jumped an eye-catching 20% in the three months until July 29 while its comparable store sales rose 10%.
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Its direct to consumer net revenue, meanwhile, which represents its online business, rocketed by 66%, excluding the impact of an online warehouse sale held in the fiscal second quarter of last year.
For the third quarter, Lululemon sees earnings per share of US$0.65 to US$0.67 on revenue of US$720mln to US$730mln.
Looking ahead, the company is lifting its forecast for the year and projecting earnings per share of US$3.45 to US$3.53 on revenue of US$3.185bn to US$3.235bn. That’s a jump from its previous forecast of US$3.10 to US$3.18 on revenue of US$3.04bn to US$3.075bn.