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Lululemon Athletica Inc LULU shares are trading lower in Thursday’s after-hours session after the company reported third-quarter results.
What Happened: Lululemon said third-quarter revenue increased 28% year-over-year to $1.86 billion, which beat average analyst estimates of $1.81 billion, according to Benzinga Pro. The company reported quarterly earnings of $2 per share, which beat estimates of $1.96 per share.
“We are pleased with our early holiday season performance and look forward to all that’s ahead for lululemon as we continue to deliver on our Power of Three ×2 growth plan,” said Calvin McDonald, CEO of Lululemon.
Lululemon expects fourth-quarter revenue to be between $2.605 billion and $2.655 billion versus estimates of $2.65 billion. The company sees full-year revenue in a range of $7.944 billion to $7.994 billion versus estimates of $7.96 billion.
Lululemon Athletica designs, distributes and markets athletic apparel, footwear and accessories.
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LULU Price Action: Lululemon has a 52-week high of $251.51 and a 52-week low of $427.47.
The stock was down 9.88% in after hours at $337.37 at time of publication, according to Benzinga Pro.
Photo: Phillip Pessar from Pixabay.
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Image and article originally from www.benzinga.com. Read the original article here.