Lululemon Raises 4th-Quarter Guidance But Misses Expectations; Shares Down |
| Wall Street Journal - Jan 14, 2013 |
Lululemon Athletica Inc. (LULU, LLL.T) raised its fiscal fourth-quarter guidance but the yoga-apparel maker's boosted per-share earnings forecast was merely in line with Wall Street projections and its more optimistic revenue outlook came up short of analysts' views.
The Vancouver, British Columbia-based company's shares were down 6.9% at $67.35 in recent after-hours trading. Through the close, the stock is down 5.2% this year.
Lululemon Athletica released its forecast ahead of its meeting with analysts and investors and a presentation set for Wednesday at the ICR XChange Conference in Miami.
For the fiscal quarter ended Feb. 3, the company raised its per-share earnings view to 74 cents from its earlier projection of 71 cents to 73 cents and now sees revenue at the high end of its initial guidance of $475 million to $480 million. Analysts polled by Thomson Reuters most recently expected 74 cents and $489 million, respectively.
The company in December had reported fiscal third-quarter earnings that beat expectations on strong same-store sales growth.
Read Full Article from Wall Street Journal
- Posted: 2013-01-15 13:05:43
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