Lululemon Athletica Earnings: Here’s Why Investors are Selling Shares 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 8.97%.
Lululemon Athletica Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 0% to $0.32 in the quarter versus EPS of $0.32 in the year-earlier quarter.
Revenue: Rose 21.04% to $345.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Lululemon Athletica Inc. reported adjusted EPS income of $0.32 per share. By that measure, the company beat the mean analyst estimate of $0.3. It beat the average revenue estimate of $341.07 million.
Quoting Management: “Being a part of lululemon for the past five and a half years has been an incredible journey. I am proud of building a world class team that has produced one of the best growth, brand and profit stories in retail,” said Ms. Day. “Plans have been laid for the next five years and a vision set for the next ten. Now is the right time to bring in a CEO who will drive the next phase of lululemon’s development and growth. I will continue to actively lead the organization while the Board searches for a new CEO, and will work to ensure a smooth transition.”
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