Lululemon: Fiscal 2Q Earnings Snapshot
VANCOUVER, British Columbia (AP) _ Lululemon Athletica Inc. (LULU) on Tuesday reported fiscal second-quarter net income of $86.8 million.
On a per-share basis, the Vancouver, British Columbia-based company said it had net income of 66 cents. Earnings, adjusted for one-time gains and costs, were 74 cents per share.
The results exceeded Wall Street expectations. The average estimate of 17 analysts surveyed by Zacks Investment Research was for earnings of 56 cents per share.
The athletic apparel maker posted revenue of $902.9 million in the period, which also topped Street forecasts. Thirteen analysts surveyed by Zacks expected $857.1 million.
Lululemon shares have climbed 52% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $351.91, a climb of 87% in the last 12 months.