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Reuters
Published
Dec 8, 2016
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Lululemon quarterly sales rise, shares jump

By
Reuters
Published
Dec 8, 2016

Canadian yoga and leisure apparel retailer Lululemon Athletica Inc reported quarterly profit that beat analysts' forecasts on Wednesday, helped by higher-than-expected gross margins and sales, sending shares up 10 percent in extended trade.


Quarterly sales rose 7% at Lululemon, surpassing expectations of a 5.4% gain - Lululemon


Third-quarter sales online and at stores open at least a year rose 7 percent, excluding exchange rate fluctuations. That beat the 5.4 percent increase expected by analysts, according to Consensus Metrix.

Net income rose to $68.3 million, or 50 cents per share in the third quarter ended October 30, from $53.2 million, or 38 cents per share, in the prior year. Revenue was $544.4 million, up from $479.7 million.

Analysts were expecting, on average, earnings of 43 cents a share and revenue of $540 million, according to Thomson Reuters I/B/E/S.

For the fourth quarter, the Vancouver-based company said it was expecting revenue of $765 million to $785 million and earnings of 96 cents to $1.01 per share.

 

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