News / Vancouver

Lululemon tops Street 3Q forecasts

VANCOUVER, British Columbia (AP) _ Lululemon Athletica Inc. (LULU) on Wednesday reported fiscal third-quarter profit of $58.9 million.

The Vancouver, British Columbia-based company said it had profit of 43 cents per share. Earnings, adjusted for non-recurring costs, were 56 cents per share.

The results topped Wall Street expectations. The average estimate of 16 analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share.

The athletic apparel maker posted revenue of $619 million in the period, also surpassing Street forecasts. Eleven analysts surveyed by Zacks expected $611.5 million.

For the current quarter ending in January, Lululemon expects its per-share earnings to range from $1.19 to $1.22. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.18.

The company said it expects revenue in the range of $870 million to $885 million for the fiscal fourth quarter. Analysts surveyed by Zacks had expected revenue of $872.7 million.

Lululemon expects full-year earnings in the range of $2.45 to $2.48 per share, with revenue ranging from $2.59 billion to $2.61 billion.

Lululemon shares have climbed 4 per cent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $67.66, a climb of 18 per cent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LULU at https://www.zacks.com/ap/LULU

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