Lululemon Stock Leaps Lower On Q3 Results: What’s Going On? – Lululemon Athletica (NASDAQ:LULU)

Shira Smolko

Lululemon Athletica Inc LULU shares are trading lessen in Thursday’s following-hours session immediately after the company reported third-quarter outcomes.

What Transpired: Lululemon claimed 3rd-quarter earnings increased 28% calendar year-above-calendar year to $1.86 billion, which beat average analyst estimates of $1.81 billion, according to Benzinga Professional. The business claimed quarterly earnings of $2 for each share, which conquer estimates of $1.96 for each share.

“We are delighted with our early holiday break year efficiency and glimpse forward to all that’s ahead for lululemon as we continue to produce on our Electricity of A few ×2 progress strategy,” said Calvin McDonald, CEO of Lululemon.

Lululemon expects fourth-quarter income to be involving $2.605 billion and $2.655 billion compared to estimates of $2.65 billion. The enterprise sees entire-yr income in a assortment of $7.944 billion to $7.994 billion versus estimates of $7.96 billion.

Lululemon Athletica styles, distributes and marketplaces athletic attire, footwear and equipment.

See Also: Why DocuSign Stock Is Ripping Bigger Right after Several hours

LULU Price Motion: Lululemon has a 52-week significant of $251.51 and a 52-7 days minimal of $427.47. 

The inventory was down 9.88% in right after hours at $337.37 at time of publication, in accordance to Benzinga Pro.

Image: Phillip Pessar from Pixabay.

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