By Yasin Ebrahim
Investing.com - Lululemon Athletica reported Tuesday second-quarter earnings and revenue that beat analysts' forecasts, led by strong digital sales.
Lululemon Athletica (NASDAQ: LULU ) was down about 1% in after-market trading.
The company announced earnings per share of 74 cents on revenue of $902.9 million. Analysts polled by Investing.com anticipated EPS of 54 cents on revenue of $842.31 million.
Direct-to-consumer net revenue was $554.3 million, an increase of 155% compared to the second quarter of fiscal 2019.
Company-operated stores net revenue was $287.2 million, a decrease of 51% compared to the second quarter of fiscal 2019.
The company said that as the temporary store closures from Covid-19 have resulted in a significant number of stores being removed from its comparable store base, it believes "total comparable sales and comparable store sales are not currently representative of the underlying trends of its business."
Lululemon Athletica shares are up 51% from the beginning of the year, thought still down 12.53% from their 52-week high of $399.88 set on Sept. 2. They are outperforming the Nasdaq, which is up 20.9% from the start of the year.
Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.