Lululemon’s (NASDAQ: LULU) earnings report for its fiscal fourth quarter 2019 has LULU stock falling after Thursday Thursday, despite the company’s earnings per share of $ 2.28. This figure beats the Wall Street estimate of $ 2.24 per share for the quarter. Revenue was also higher – $ 1.4 billion in sales compared to $ 1.38 billion expected.
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However, Lululemon announced that they would not share their 2020 prospects due to uncertainty surrounding the Covid-19 pandemic. Furthermore, the company’s CEO, Calvin McDonald, states that the stores in the USA will probably remain closed longer than their stores in China, and that the stores will be resumed on a “market basis”.
Here’s what’s more worth mentioning from the latest Lululemon earnings report.
EPS is 38% higher than the year before. Revenue was 19.7% higher than $ 1.17 billion from the previous year. Sales in the same store increased by 20% YOY. Digital, men’s and women’s sales increased by 41%, 32% and 17%, respectively, YOY.
McDonald also had this to say about his company’s revenue:
“2019 was a strong year for lululemon, as our teams drove towards our Power of Three growth plan. We are now navigating in an extraordinary environment that is currently affecting our business. The strength of our brand and the strong financial position help us to manage the day-to-day, while we continue to effectively plan and invest in our future. ”
The LULU share fell 2.42% during Thursday afternoon session.
At the time of writing, William White had no position in any of the above securities.