Lululemon Athletica Inc. (NASDAQ: LULU) on Tuesday announced fourth-quarter earnings and revenue that beat analysts’ estimates, sending its shares up more than 10 percent.
The yoga apparel company said net revenue rose 18 percent to $928.8 million in the quarter ended January 28, beating analysts’ estimates of $912 million, according to Thomson Reuters.
Fourth-quarter earnings per share was $0.88. Excluding certain items, the company earned $1.33 per share, also topping analysts’ projection of $1.27 per share.
Glenn Murphy, Executive Chairman of the Board, commented: "We are pleased with our results for the fourth quarter and fiscal year 2017. The company continues to execute successfully on its global growth strategies and I would like to thank our entire team including Celeste, Stuart, and Sun for their leadership in driving this strong performance."
The better-than-expected quarterly financial result was boosted by strong sales in the e-commerce side. The company also continued its expansion internationally and create more innovative products to attract more customers.
Lululemon shares jumped as much as 11.44 percent to $87.65 per share in the early trading on Wednesday.
Lululemon also provided guidance for the first quarter of fiscal 2018. The company expected net revenue to be in the range of $612 million to $617 million. For the full year, the company expect net revenue to be in the range of $2.985 billion to $3.022 billion.