Lululemon Athletica Inc. (NASDAQ: LULU) released fiscal second-quarter financial results after markets closed Thursday. The company said that it had $0.96 in earnings per share (EPS) and $883.4 million in revenue, compared with consensus estimates that called for $0.89 in EPS and $845.65 million in revenue. The same period of last year reportedly had $0.71 in EPS and $723.5 million in revenue.
Overall, revenues increased 22% year over year and 23% on a constant currency basis. Direct to consumer net revenue represented 24.6% of total net revenue, compared to 23.1% last year.
Total comparable sales increased 15% from last year, or up 17% in constant currency. Comparable store sales increased 10%, while direct to consumer net revenue increased 30%.
Looking ahead to the fiscal third quarter, the company expects to see EPS in the range of $0.90 to $0.92 and revenue between $880 million and $890 million. Consensus estimates are calling for $0.90 in EPS and $864.42 million in revenue for the quarter.
CEO Calvin McDonald commented:
We’re pleased with the ongoing strength across our business. We continue to make progress in delivering against our Power of Three growth pillars – product innovation, omni-guest experience, and market expansion. Our success demonstrates the significant runway in front of lululemon and I’m grateful to our teams for bringing our vision to life.
Shares of Lululemon closed Thursday at $188.41, in a 52-week range of $110.71 to $194.25. The consensus price target is $193.96. Following the announcement, the stock was up over 5% at $198.75 in the after-hours trading session.