lululemon shares hit record as first-quarter profit beats expectations
Lululemmon Athletica, a Canadian sportswear manufacturer (LULU. O)posted first-
On Thursday, the company\'s quarterly profit exceeded expectations due to revenue growth of 25%, which made the company\'s shares
High time afterhours trade. Second-
Vancouver-quarterly revenue is expected to be between 46 and 48 cents per share, earning between $0. 66 billion and $0. 665 billion
The US-based company said in a statement.
Compared to per
Adjusted earnings per share were 39 cents and earnings were $581.
5 million a year ago
Stocks soared 6.
$ 2% to $111. 51 in after-
Trading time, more than the intraday record set on Tuesday.
After that is 0.
The day fell 55%, due to the market\'s S & P 500 index fell 0. 7 percent.
Lulululemon popularized \"sportswear\" by turning expensive women\'s yoga suits into mainstream fashion, and is guiding consumers to online shopping and competing with competitors including Under Armour Inc. UAA. N)and Nike Inc (NKE. N).
It fought back by investing in its electronics.
Business platform to expand its men\'s clothing products.
Its direct income increased by 62%. to-
Consumer businesses, including online sales, helped push earnings to 55 cents per share in the quarter ended April 29, while analysts estimated 46 cents, up 23 cents a year ago.
Revenue rose to $649.
7 million, above $520.
3 million a year ago.
Analysts had expected $617. 7 million.
In its statement, the company did not provide an update on the company\'s search for a new chief executive after Laurent Portwin abruptly left office in February on allegations of misconduct.