lululemon athletica inc. (LULU, LLL.TO) reported net income for the first quarter of $47.3 million or $0.32 per share, compared to $46.6 million or $0.32 per share for the year-ago quarter.
Net revenue for the first quarter rose 21% to $345.78 million from $285.70 million in the same quarter last year.
Analysts polled by Thomson Reuters expected the company to earn $0.32 per share on revenue of $341.07 million for the first quarter.
Same-store sales for the first quarter increased by 7% on a constant dollar basis.
Looking forward to the second quarter, the company forecasts net revenue of $340 million to $345 million and earnings of $0.33 to $0.35 per share. Analysts currently expect the company to earn $0.33 per share on revenue of $328.88 million for the second quarter.
For the full fiscal 2013, the company now expects net revenue to be in the range of $1.645 billion to $1.665 billion and earnings of $1.96 to $2.01 per share. Previously, the company expected net revenue of $1.615 billion to $1.640 billion and earnings of $1.95 to $1.99 per share.
Analysts currently expect the company to earn $1.99 per share on revenue of $1.64 billion for the full fiscal 2013.
lululemon athletica also said that after a five and half year tenure Christine Day will step down as the company's Chief Executive Officer when a successor is named.
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