Lululemon Shares Surge on Earnings Beat, Positive Guidance - TheStreet

Shares of Lululemon (LULU) - Get Report were rising after the athleisure apparel retailer reported earnings and revenues that beat estimates. 

The stock was rising 8.53% to $12.52 a share in postmarket trading Wednesday following the release of its fiscal fourth quarter report. Shares closed the day's trading up 2.3%.

Earnings per share came in at $1.85 on an adjusted basis, beating analyst expectations of $1.75. The earnings result is a 39% year-over-year increase. Revenue rose 26% year-over-year to $1.2 billion, beating analysts expectations of $1.15 billion. And same-store sales grew 16%, but 17% on a constant dollar basis, against expectations of 16%. 

Management guided for fiscal first quarter 2019 revenue to be in a range between $740 million to $750 million, versus expectations of $744 million. The company is expecting EPS for the  quarter of between 68 cents and 70 cents, beating expectations of 67 cents.

The company will also be executing a $500 million share buyback program.

"Lululemon has delivered one of its strongest years yet, a result of broad-based strength across the business," said CEO Calvin Mcdonald. "I'm thrilled that we achieved several of our 2020 goals ahead of schedule." 

Lululemon's stock is up 18.6% year-to-date. 

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