Shares of athleisure maker Lululemon Athletica (LULU) - Get Report jumped more than 4% Thursday after the company posted fiscal first-quarter earnings and sales that beat analysts' forecasts, and lifted its full-year outlook.
The Vancouver-based producer and retailer of yoga pants and other athletic lifestyle clothing and accessories said it earned $96.6 million, or 74 cents a share, vs. $75.2 million, or 55 cents a share, in the comparable year-earlier period. Analysts polled by FactSet had been expecting per-share earnings of 71 cents a share.
Revenue rose by 20% to $782.3 million, topping estimates of $756 million. Comparable-store sales rose 6%.
"Lululemon continues to see strong momentum across the entire business," said CEO Calvin McDonald.
For the second quarter, Lululemon said it expects to earn between 86 cents and 88 cents a share on revenue of $825 million to $835 million. Analysts are calling for earnings of 88 cents a share on revenue of $835 million.
The company now expects full fiscal-year profit of between $4.51 and $4.58 a share, up from its previous guidance of between $4.48 and $4.55 a share, on revenue of between $3.73 billion and $3.77 billion.
Shares of Lululemon were up 4.21% to $178.08 in trading on the New York Stock Exchange.