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Lululemon Athletica Inc.’s stock vaulted 13% in extended trading Tuesday after the clothing retailer reported quarterly results that topped analyst revenue and earnings estimates, and offered strong full-year revenue guidance.
Lululemon
LULU,
reported fiscal fourth-quarter net earnings of $119.8 million, or 94 cents a share, compared with net earnings of $434.5 million, or $3.36 a share, in the year-ago quarter. Adjusted earnings were $4.40 a share.
Revenue was flat at $2.77 billion, compared with $2.13 billion a year ago.
Analysts surveyed by FactSet had expected on average net earnings of $4.26 a share on revenue of $2.7 billion.
Lululemon offered full-year revenue guidance of $9.3 billion to $9.4 billion, topping the FactSet consensus of $9.1 billion.
“As we enter 2023, we look forward to another year of strong momentum across the globe and delivering on our Power of Three ×2 growth plan,” Lululemon Chief Executive Calvin McDonald said in a statement announcing the results.
Shares of Lululemon are flat this year, while the broader S&P 500 index
SPX,
has increased 3.4%.
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