Lululemon Athletica Earnings: Here’s Why Investors are Not Happy Now
Lululemon Athletica Inc. (NASDAQ:LULU) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 7.85%.
Lululemon Athletica Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share were the same at $0.39 in the quarter as EPS of $0.39 in the year-earlier quarter.
Revenue: Rose 21.89% to $344.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Lululemon Athletica Inc. reported adjusted EPS income of $0.39 per share. By that measure, the company beat the mean analyst estimate of $0.35. It beat the average revenue estimate of $342.99 million.
Quoting Management: Christine Day, lululemon’s CEO, stated: “2013 continues to be the most important and most productive year in lululemon’s history. We have not only worked our way back from the black luon setback, but have also added very talented people in important functions and have taken major steps forward on a number of key fronts including the expansion of our international and men’s businesses and many logistical initiatives. In addition, our exclusive partnership with Noble announced today and additional sources for luon will help to ensure that lululemon remains a distinct leader in quality and innovation.” Ms. Day continues: “We are well on our way to finishing 2013 as a much stronger company than when the year began. I am confident that the leadership currently in place coupled with a new CEO will have tremendous success leveraging the platform for growth.”
Key Stats (on next page)…