By Canadian Press

Lululemon Q1 earnings outpace analyst expectations, company ups 2019 guidance

Jun 12, 2019 | 1:38 PM

VANCOUVER — Lululemon Athletica Inc.’s revenue rose 20 per cent during its most recent quarter, outpacing analyst expectations.

The athleisure retailer says its net revenue for the first quarter totalled $782.3 million, up from $649.7 million in the same quarter the previous year.

Analysts surveyed by Thomson Reuters Eikon expected $755.31 million for the quarter ended May 5.

Its net income was $96.6 million for the quarter or 74 cents per share, up from $75.2 million in the same quarter the previous year.

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Analysts expected net income of $92.35 million or 70 cents per share, and adjusted net income of $92.74 million, also 70 cents per share.

The company raised its guidance for the full financial year to between $3.73 billion and $3.77 billion in revenue or $4.51 to $4.58 diluted earnings per share.

The Canadian Press