Lululemon Athletica Inc (NASDAQ:LULU) Total Comparable Sales Increased 27%

Free $100 Forex No-Deposit Bonus

Lululemon Athletica Inc (NASDAQ:LULU) stock fell 1.09% (As on Dec 10, 9:39:36 AM UTC-4, Source: Google Finance) though the company beat the market’s expectations for the third quarter of FY 21. Net revenue increased 28% in North America, and increased 40% internationally. Total comparable sales increased 27%, or increased 26% on a constant dollar basis. Comparable store sales increased 32%, or increased 31% on a constant dollar basis. Direct to consumer net revenue increased 23% to $586.5 million. On a constant dollar basis, direct to consumer net revenue increased 21%. Direct to consumer net revenue represented 40.4% of total net revenue compared to 42.8% for the third quarter of 2020. Gross profit increased 32% to $829.4 million and gross margin increased 110 basis points to 57.2%. Income from operations increased 26% to $257.9 million. Adjusted income from operations increased 32% to $282.1 million. Operating margin decreased 50 basis points to 17.8%. Adjusted operating margin increased 30 basis points to 19.4%. The Company had opened 18 net new company-operated stores during the third quarter, ending with 552 stores. The Company has ended the third quarter of 2021 with $1.0 billion in cash and cash equivalents and the capacity under its committed revolving credit facility was $396.9 million. Inventories at the end of the third quarter of 2021 increased 22% to $943.9 million compared to $771.0 million at the end of the third quarter of 2020.

LULU in the third quarter of FY 21 has reported the adjusted earnings per share of $1.62, beating the analysts’ estimates for the adjusted earnings per share of $1.39, according to Zacks Investment Research. The company had reported the adjusted revenue growth of 30.6 percent to $1.45 billion in the third quarter of FY 21, beating the analysts’ estimates for revenue of $1.43 billion.

For the fourth quarter ending in January, Lululemon expects its per-share earnings to range from $3.25 to $3.32. Analysts surveyed by Zacks had forecast adjusted earnings per share of $3.31. The company expects revenue to be in the range of $2.13 billion to $2.17 billion for the fiscal fourth quarter. Analysts surveyed by Zacks had expected revenue of $2.15 billion.

Lululemon expects full-year earnings to be in the range of $7.69 to $7.76 per share, with revenue ranging from $6.25 billion to $6.29 billion.

Additionally, the company had repurchased 0.6 million shares of its own common stock during the quarter at an average price of $405.87 per share for a total cost of $236.4 million.

Copyright © 2022. All Rights Reserved. FXDailyReport.Com
Risk Warning: Trading CFDs is a high risk activity and you may lose more than your initial deposit. You should never invest money that you cannot afford to lose. FXDailyReport.com will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets.