By Sabrina Escobar
Lululemon Athletica's fiscal first quarter topped earnings and sales expectations, but the stock was tumbling in after-hours trading because the company lowered profit guidance for the year and posted weak same-store sales growth.
The athletic-apparel maker reported earnings of $2.60 a share for the quarter ended May 4. Analysts polled by FactSet were expecting $2.58 a share.
Revenue rose 7% year over year to $2.37 billion, slightly better than estimates for $2.36 billion. Same-store sales rose by 1% from last year, softer than projections for a 4.1% increase.
Lululemon shares were plunging 21% in after-hours trading Thursday, reflecting investors' disappointment in weak profit guidance. The stock has shed 14% this year.
Lululemon now sees full-year earnings ranging from $14.58 to $14.78, down from a prior guidance of $14.95 to $15.15. The high end of the new range is lower than the $14.86 analysts had penciled in.
Second-quarter earnings guidance was also soft. The company expects earnings per share in the range of $2.85 to $2.90, compared to analyst projections for $3.29 a share.
The company maintained its full-year revenue guidance for sales to range from $11.15 billion to $11.3 billion. Revenue for the current quarter will be between $2.535 billion to $2.560 billion.
Write to Sabrina Escobar at sabrina.escobar@barrons.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
June 05, 2025 16:38 ET (20:38 GMT)
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