Lululemon Posts Mixed Earnings Report

Lululemon Athletica  (LULU) – Get Report shares fell in after-hours trading, as the casual apparel retailer’s latest revenue failed to meet estimates, but earnings per share beat expectations amid the coronavirus pandemic.

For the fiscal 2020 first quarter ended May 3, revenue fell 17% to $651.96 million from $782.32 million in the year-ago quarter. Analysts surveyed by FactSet expected revenue of $691.6 million for the latest quarter.

Net income totaled $28.63 million, or 22 cents per share, in the latest quarter, down from $96.60 million, or 74 cents a year earlier. Analysts predicted 20 cents a share for the latest quarter.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *