Lululemon Earnings: LULU Stock Slides on Underwhelming Q4 Guidance
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Lululemon earnings (NASDAQ:LULU) came in ahead of what analysts were calling for in the Wall Street consensus estimate, but LULU stock declined as the company’s guidance for its current quarter was weaker than what analysts were calling for.
The yoga apparel maker said that for its third quarter of fiscal 2018, it brought in net income of $94.4 million, or 71 cents per share, topping the $58.9 million, or 43 cents per share it brought in during its third quarter of fiscal 2017. The company added that its adjusted earnings, when excluding certain items, came in at 75 cents per share.
The figure is stronger than the 70 cents per share that analysts were expecting Lululemon to bring in, according to data compiled by a Refinitiv survey. The company added that its revenue for its third quarter tallied up to $748 million, which marked a 21% gain compared to its third quarter from fiscal 2017.
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Analysts were projecting the company to amass revenue of $737.5 million, according to data compiled by Refinitiv in a survey. Lululemon added that its same-store sales for its third quarter were 18% higher than they were during the year-ago quarter, beating the 13.8% surge that analysts were calling for, per Refinitiv.
LULU stock fell close to 5% after the bell on Thursday afternoon, while shares had been sliding about 1.6% during regular trading hours as the company prepared to report on its period.
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