Lululemon Athletica inc. (LULU) shares are trading higher after reporting fourth-quarter earnings and sales beat.
The athleisure company reported earnings of $1.85, beating estimates by 11 cents. Sales came in at $1.167 billion, beating estimates by $167 million. The company also announced a $500 million buyback.
The company issued a strong first quarter and 2019 earnings and sales guidance.
Highlights
- Comps up 6 percent year over year
- Net revenue increased 26 percent year over year
- Direct to consumer net revenue increased 37 percent year over year
- Gross profit increased 28 percent year over year
Lululemon's stock is up 9.2 percent at $160.02 in the after-hours session. The stock closed the regular trading session up 2.2 percent at $146.80.
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