- Lululemon (NASDAQ:LULU) reports comparable sales soared 20% in FQ1, including a 62% jump in direct to consumer revenue during the quarter. Comparable store sales were up 8%.
- The extra sales leverage helped push up the retailer's gross margin rate by 370 bps to +53.1% of sales. Operating margin was 16.1% of sales vs. 12.1% a year ago.
- "Our first quarter results reflect the ongoing strength of our business and our continued focus on product innovation, global growth, digital acceleration, and, most importantly, investing in our people. Our momentum remains strong and we are optimistic for 2018 and beyond," says COO Stuart Haselden.
- Guidance from Lululemon also arrived in strong fashion. The company expects full year revenue of $3.04B to $3.075B off a comparable sales increase in the high single digits. EPS of $3.10 to $3.18 is anticipated vs. $3.00 to $3.08 prior and $3.10 consensus.
- LULU +4.69% AH to $109.98.
- Now read: Dollar Tree (NASDAQ:DLTR) sheds 8% after weak profit guidance
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