Lululemon Athletica Inc. (NYSE:LLL) said Thursday that its fiscal fourth-quarter profit almost tripled on leaner inventory and sales of its running products. The Canadian maker of high-end workout clothes also gave full-year and first-quarter projections above Wall Street's expectations. Lululemon Athletica Inc. trades on the “New York Stock Exchange” under the stock symbol “LLL”. For More information regarding the "LLL", make sure to visit the Most Exclusive and In Depth newsletter website at: http://www.wallstreetgrand.com/.
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Lululemon Athletica Inc. (NYSE:LLL) said Thursday that its fiscal fourth-quarter profit almost tripled on leaner inventory and sales of its running products. The Canadian maker of high-end workout clothes also gave full-year and first-quarter projections above Wall Street's expectations.
Its U.S.-traded shares jumped $4.36, or 12.1 percent, to $40.41 in midday trading. The stock reached a new 52-week high of $40.95 earlier in the session, eclipsing a prior peak of $36.89 set Wednesday.
Lululemon's earnings for the quarter ended Jan. 31 surged to $28.5 million, or 40 cents per share, from $10.9 million, or 16 cents per share, in the same quarter a year before. For the year, earnings increased to $58.3 million, or 82 cents per share, from $39.4 million, or 55 cents per share, in the prior year. Revenue improved to $452.9 million from $353.5 million. For the first quarter, the retailer forecasts earnings between 18 cents and 20 cents per share on revenue of $125 million to $130 million. Analysts predict earnings of 17 cents per share on revenue of $109.8 million
Lululemon said its sales have picked up as the economy improved, with its performance also benefiting from an expanded line of running products, more value-oriented items and its online debut. Lululemon anticipates a fiscal 2010 profit between $1 and $1.05 per share on revenue of $570 million to $585 million. Analysts expect full-year profit of 96 cents per share on revenue of $532.1 million.
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