What happened: Lululemon Athletica Inc. beat analysts’ expectations for sales and profit and raised guidance in its second quarter financial report, released after markets closed Sept. 5.
Why it matters: Lululemon is the largest retailer that is listed on public markets that is based in B.C., and it bases hundreds of workers in the region.
The Vancouver fashion giant generated nearly US$125 million in profit on nearly US$883.4 million in sales during the quarter that ended Aug. 4.
Its earnings per share worked out to US$0.96, which was US$0.07 more than analysts had expected. Revenue was US$38.32 more than expected.
Its share price popped more than three per cent after hours on top of a more than 4.2 per cent bump during the regular trading session. This is despite its share price being up more than 50 per cent so far this year.
Lululemon expects that it will continue its momentum in its third quarter, when sales are projected to be in the US$880-million to US$890-million range, based on a total comparable sales increase between 10 per cent and 14 per cent on a constant dollar basis.
Diluted earnings per share are expected to be in the range of $0.90 to $0.92 for the quarter.
Sales for the year are now forecast to be between US$3.8 and US$3.84 billion.
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