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Lululemon reports softer guidance amid weaker U.S. consumer demand; shares slump
Investing.com - Lululemon Athletica reported Thursday weaker guidance as the apparel maker flagged a slower demand since the turn of the year amid weaker shift in the U.S. consumer.
that offset fourth-quarter results on both the top and bottom lines.
Lululemon Athletica Inc (NASDAQ:LULU) shares lost 10% in after-hours trade following the report.
Lululemon Athletica reported earnings of $5.29 per share on revenue of $3.21 million. Analysts polled by Investing.com anticipated EPS of $5.00 on revenue of $3.20 million.
The beat was driven by improved margins amid lower freight costs, with gross margin rising to 59.4% from 55.1% a year earlier.
Comparable sales increased 12%, with Americas sales up 7% and international up 43%.
For Q1, the company sees EPS in a range of $2.35 to $2.40 on revenue in the range of $2.175B to $2.20B, missing estimates of $2.58 on revenue of $2.28B.
Looking ahead, the company forecast full-year EPS in the range of $14.00 to $14.20 revenue to between $10.70B and $10.80B. That compared with analyst estimates for earnings of $14.26 per share on revenue of $10.94B.
On the earnings call, Lululemon said it was navigating what has been slower start to year for the U.S. consumer.
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