By Yasin Ebrahim
Investing.com – Lululemon Athletica (NASDAQ:) reported fourth-quarter that beat analysts’ forecasts as the sportswear retailer fashioned strong growth abroad.
Lululemon Athletica was down less than 1% in aftermarket hours.
Lululemon Athletica announced earnings per share of $2.58 on revenue of $1.73 billion. Analysts polled by Investing.com anticipated EPS of $2.49 on revenue of $1.66 billion.
The beat on the top line was driven by a 47% jump in revenue in international markets.
Total comparable sales increased 21%, with direct-to-consumer revenue up 94% to $352 million, and company-operated stores revenue falling 28% in the fourth quarter from a year earlier.
Looking ahead to Q1 2021, adjusted EPS is expected to be in the range of 86 cents to 90 cents for the quarter on revenue of between $1.10 billion to $1.13 billion.
The company opened six net new company-operated stores during the quarter, ending with 521 stores.
For 2021, adjusted EPS was guided in the range of $6.30 to $6.45 for the year on revenue of $5.55 billion to $5.65 billion. Wall Street was looking for EPS of $6.75 on revenue of $5.43 billion.
“We pulled forward investments in our direct-to-consumer channel, completed our first acquisition, and tightly managed expenses while also supporting our people. These measures contributed to our strong fourth quarter results,” the company said.
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