Lululemon Surges as Profit Nearly Doubles
NEW YORK (
) --
Lululemon Athletica
(LULU) - Get Report
reported yet another blow-out quarter, sending shares surging in morning trading.
During the quarter, the yoga-inspired retailer earned $25.7 million, or 36 cents a share, an 82% jump from $14.1 million, or 20 cents, in the year-ago period. Analysts were calling for a smaller profit of 25 cents a share.
Cramer: Lululemon vs. Nike |
var config = new Array(); config<BRACKET>"videoId"</BRACKET> = 704586226001; config<BRACKET>"playerTag"</BRACKET> = "TSCM Embedded Video Player"; config<BRACKET>"autoStart"</BRACKET> = false; config<BRACKET>"preloadBackColor"</BRACKET> = "#FFFFFF"; config<BRACKET>"useOverlayMenu"</BRACKET> = "false"; config<BRACKET>"width"</BRACKET> = 265; config<BRACKET>"height"</BRACKET> = 255; config<BRACKET>"playerId"</BRACKET> = 1243645856; createExperience(config, 8); |
Revenue climbed 56% to $175.8 million, while same-store sales rose 29%.
Looking ahead, Lululemon expects fourth-quarter earnings in the range of 46 cents to 48 cents, and revenue between $210 million to $215 million. Wall Street is looking for earnings of 41 cents a share on revenue of $201.3 million.
Shares of Lululemon are gaining 16.8% to $65.323 in early trading.
While the company continues to beat numbers, the stock has reflected this performance, up nearly 40% since Lululemon reported its second-quarter results in September. Given this, Nomura analyst Paul Lejuez says despite its growth story, the vluation does not make sense.
--Written by Jeanine Poggi in New York.
>To contact the writer of this article, click here:
Jeanine Poggi
.
>To follow the writer on Twitter, go to
.
>To submit a news tip, send an email to:
.