Adds particulars, shares
Adds particulars, shares
March 26 (Reuters) – Lululemon Athletica Inc LULU.O beat analysts’ estimates for quarterly income on Thursday, helped by sturdy vacation demand, however the athletic attire maker didn’t difficulty a full-year outlook resulting from uncertainty brought on by the coronavirus pandemic.
Shares of the Vancouver-based firm fell about 3% after the closing bell.
Like all retailers, the Vancouver-based firm shut doorways in China, and earlier this month quickly closed all shops in the US to include the outbreak.
“We at the moment are navigating a unprecedented surroundings, which is presently impacting our enterprise,” Chief Government Officer Calvin McDonald mentioned in a press release.
Since first detected in China late final yr, the virus has contaminated greater than 500,000 and killed over 22,000 globally, together with about 1,000 in the US, forcing a number of governments to lock down cities, prohibit journey and encourage residents to remain at dwelling.
Lululemon, well-liked for its yoga attire and courses in shops, additionally canceled yoga courses and store-based occasions in North America however has been streaming the courses for its clients.
Whole income rose 19.7% to $1.40 billion within the fourth quarter ended Feb. 2. Analysts on common had estimated income of $1.38 billion, in line with IBES knowledge from Refinitiv.
The corporate’s web revenue rose to $298 million, or $2.28 per share, from $218.5 million, or $1.65 per share, a yr earlier.
Excluding one-time gadgets, the corporate earned $2.28 per share, beating estimates of $2.24.
(Reporting by Nivedita Balu in Bengaluru; Enhancing by Maju Samuel and Sriraj Kalluvila)
(([email protected]; inside U.S. +1 646 223 8780; exterior U.S. +91 80 6749 4822/ Twitter: @niveditabalu;))
The views and opinions expressed herein are the views and opinions of the writer and don’t essentially mirror these of Nasdaq, Inc.