FMP
Lululemon Shares Up 14% Following Q2 Beat
Sep 9, 2021 8:02 PM - Davit Kirakosyan
Image credit: FMP
Lululemon Athletica Inc. (NASDAQ:LULU) shares were trading around 14% higher today following the company’s reported strong Q2 results, with EPS of $1.65, beating the Street estimate of $1.18. Quarterly revenue was $1.5 billion, again better than the consensus estimate of $1.33.
The company provided its outlook on Q3, expecting EPS of $1.355, better than the Street estimate of $1.32, and revenue of $1.415 billion, versus the Street estimate of $1.32 billion.
For the full year, the company estimates an EPS of $7.43, versus the consensus of $6.91, and revenue of $6.225 billion, above the consensus estimate of $5.94 billion.
Analysts at Deutsche Bank raised their price target on the company’s shares to $474 from $436, mentioning that the quarterly results showcased momentum in DTC and a meaningful improvement in the stores channel (up 19% from 2019) as open stores generated productivity in line with 2019.
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