lululemon athletica, Inc. (NASDAQ:LULU) is seeing a surge in shares pre-market today. The Yoga apparel and class operator raised its prior guidance. lulu said its comparable store sales are now expected to show percentage growth in the mid-30’s over the same period last year, above the previous guidance of growth in the mid to high teens.
lulu’s revised guidance is attributable primarily to strong sales volumes. Interestingly enough it also said that an additional benefit came from the impact on sales of a strengthening Canadian dollar against the U.S. dollar. On a constant dollar basis, the revised guidance translates into a mid-20’s percentage increase over 2006. Even though the increase in sales is expected to be partially offset by the currency impact on SG&A costs incurred in Canada, the Company expects to exceed its previous guidance of $0.05 to $0.06 EPS for the third quarter.
LULU shares are trading up over 9% at $45.00 in pre-market trading, still under the $48.58 highs since the company’s stellar IPO this morning.
- Initial Research Calls on LULU;
- Cramer thinks its the next hot apparel company;
- Its first earnings report.
Jon C. Ogg
October 16, 2007
Take This Retirement Quiz To Get Matched With A Financial Advisor (Sponsored)
Take the quiz below to get matched with a financial advisor today.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the
advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Take the retirement quiz right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
