Lululemon Athletica inc. LULU shares are surging after reporting a second-quarter earnings beat.
Earnings came in at 96 cents per share, beating estimates by 8 cents. Sales came in at $883 million, beating estimates by $35.17 million.
The company also raised 2019 earnings guidance from $4.51-$4.58 to $4.63-$4.70.
"We're pleased with the ongoing strength across our business. We continue to make progress in delivering against our Power of Three growth pillars - product innovation, omni-guest experience, and market expansion," said CEO Calvin McDonald. "Our success demonstrates the significant runway in front of Lululemon and I'm grateful to our teams for bringing our vision to life."
Highlights
- Revenue increased 22%
- Comparable sales increased 15%
- Direct to consumer net revenue increased 30%
Lululemon shares traded higher by 5.6% in Thursday's after-hours session. The stock closed at $188.41 per share.
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