Lululemon Athletica Inc shares are surged nearly 7% after reporting solid Q4 results and a full-year outlook that beat estimates, according to a press release by Lululemon on Tuesday.
- The company reported adjusted earnings per share of $3.37, excluding non-recurring items. Analysts were expected earnings per share of $3.27.
- Revenues jumped more than 23% year-over-year to $2.13 billion from $1.73 billion, with total comparable sales growing 32% and e-commerce revenue increasing 17% to account for 49% of total revenues.
- Calvin McDonald, CEO of Lululemon, stated that 2021 was another successful year for the company, citing the strength of the brand and ability to deliver consistent growth across the business.
- For the full year, Lululemon projects to earn between $9.15 and $9.35 on revenue of $7.49 billion to $7.62 billion. Consensus estimates for earnings per share of $7.69 and revenue of $6.26 billion.
The company announced that the board of directors authorized a $1 billion stock repurchase program. LULU: NASDAQ is up +7.38%, Pre-market trading