Lululemon Athletica (NASDAQ: LULU) reported quarterly earnings and revenue that beat analysts' expectations on Tuesday, as the athleisure brand reported success on a number of its key initiatives, including its expansion into menswear, online and internationally.
Lululemon reported net revenue of $929 million, beating expectations of $912 million. That figure represented an increase of 18 percent since the same quarter the year prior.
It earned $120 million, or 88 cents a share for the fourth quarter, compared with $136.1 million, or 99 cents a share, a year ago. After adjusting for one-time items, it earned $1.33 per share, topping analysts' estimates of $1.27 per share.
Earnings Per Share registered at $1.33 adj. vs. $1.27 expected. Revenue was $929 million vs. $912 million expected. Lululemon was one of the first to kick off the "athleisure" trend but had more recently seen growth slow as new competitors infiltrated.
Part of its solution has been to look for growth elsewhere. In Asia, a region increasingly focused on health, Lululemon reported quarterly comparable sales that were up 52% against the same quarter a year prior.
Lululemon also provided guidance for 2018. It anticipates 2018 net revenue of $2.99 billion to $3.02 billion and diluted earnings per share of $3.00 to $3.08.
For the first quarter of fiscal 2018, the company expects net revenue to be in the range of $612 million to $617 million based on a total comparable sales increase in the low double digits on a constant dollar basis.
Shares in LULU ballooned $7.59, or 9.6%, to $86.30.
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