Shares of Lululemon Athletica Inc. (LULU) are gaining nearly 7% on Wednesday morning after the yoga apparel retailer's fourth-quarter profit trumped Street view and issued a strong outlook for the first quarter and full year 2022.
LULU is currently trading at $367.69, up $23.72 or 6.90%, on the Nasdaq.
Lululemon's fourth-quarter profit rose to $434.5 million or $3.36 per share from $329.8 million or $2.52 per share last year.
Adjusted earnings for the quarter were $436.0 million or $3.37 per share, up from $337.4 million or $2.58 per share last year. Analysts polled by Thomson Reuters estimated earnings of $3.28 per share for the quarter.
Revenues for the quarter jumped 23% to $2.13 billion from $1.73 billion last year. Analysts had a consensus revenue estimate of $2.13 billion for the quarter.
Looking forward to the first quarter, the company expects revenue of $1.525 billion to $1.550 billion and earnings of $1.38 to $1.43 per share. Analysts currently estimate earnings of $1.29 per share and revenues of $1.41 billion for the quarter.
For fiscal 2022, the company expects revenue of $7.490 billion to $7.615 billion and earnings of $9.15 to $9.35 for the year. Analysts currently estimate earnings of $9.06 per share and revenues of $7.30 billion.
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