Lululemon announced Thursday fiscal fourth-quarter results that topped expectations, as its same-store sales surged 20% during the period, thanks, in part, to more men shopping in its stores and online.
However, due to the uncertainty from the coronavirus pandemic, the yoga pants maker said it will not be providing a fiscal 2020 outlook at this time. Its stock fell about 2% in after-hours trading.
Here’s how the company did during the fourth quarter compared with what analysts were expecting, based on Refinitiv data:
Net income rose to $298 million, or $2.28 per share, from $218.5 million, or $1.65 a share, a year ago. That was better than the $2.24 per share analysts were expecting it to earn, based on Refinitiv data.
Net revenue grew roughly 20% to $1.40 billion from $1.17 billion a year ago. Analysts were calling for $1.38 billion in revenue.
Same-store sales overall were up 20%, the company said. Digital sales surged 41% during the quarter. Men’s revenue was up 32%, and women’s was up 17%.
“The strength of our brand and strong financial position will help us manage through the day-to-day, while continuing to effectively plan for and invest in our future,” CEO Calvin McDonald said in a statement.
In February, because of the heightened spread of COVID-19, Lululemon closed all of its stores temporarily in mainland China. It said Thursday that all but one of these shops…
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