People line up to enter a store during Black Friday shopping at Fashion Outlets of Chicago in Rosemont of Greater Chicago Area, Illinois, the United States, on Nov. 26, 2021.
Joel Lerner | Xinhua News Agency | Getty Images
Lululemon‘s stock rose after the apparel market reported fiscal third-quarter earnings and sales ahead of analysts’ estimates, prompting it to raise its full-year outlook.
Shares were recently up more than 2% in after hours.
Here’s how Lululemon did in the three-month period ended Oct. 31 compared with what analysts were expecting, based on a Refinitiv survey:
Earnings per share: $1.62 adjusted vs. $1.41 expectedRevenue: $1.45 billion vs. $1.41 billion expected
Lululemon said third-quarter net income rose to $187.8 million, or $1.44 per share, from $143.6 million, or $1.10 per share, a year ago.
Excluding one-time items, it earned $1.62 per share, ahead of expectations for $1.41.
Sales rose about 30% to $1.45 billion from $1.12 billion a year earlier. That was ahead of expectations for $1.41 billion.
Lululemon raised its revenue to a range of between $6.25 billion and $6.29 billion. Previously, it expected revenue of $6.19 billion to $6.26 billion.
As of Thursday’s market close, Lululemon shares are up about 20% year to date.
Find the full earnings press release from Lululemon here.
This story is developing. Please check back for updates.
