Atheletic apparel designer and retailer Lululemon Athletica (LULU) this evening announced fiscal Q3 sales and profit above estimates and forecast Q4 sales ahead of estimates.
Sales at the $1.9 billion (market cap) Vancouver-based retailer improved 30%, year over year, to $112.9 million, yielding profit per share of 20 cents, beating the average estimate of $111.2 million and 19 cents. It was the sixth quarter in the row of positive earnings surprises. For the current quarter, the company sees comp store sales up “in the mid teens,” leading to sales of $140 million to $145 million, above the $134 million average estimate, and profit of 26 cents to 28 cents, in line with the average 27-cent estimate. The company ended the quarter with $101.8 million in cash and no debt.
Lululemon shares were up 43 cents, or 1.6%, at $28.10, in after-hours trading after rising 3% during the regular session.
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