lululemon athletica (LULU) Tops Q2 EPS by 7c, Offers Q3 and FY Guidance

lululemon athletica (NASDAQ: LULU) reported Q2 EPS of $0.96, $0.07 better than the analyst estimate of $0.89. Revenue for the quarter came in at $883 million versus the consensus estimate of $843.65 million.

GUIDANCE:

lululemon athletica sees Q3 2019 EPS of $0.90-$0.92, versus the consensus of $0.90. lululemon athletica sees Q3 2019 revenue of $880-890 million, versus the consensus of $864.4 million.

• For the third quarter of fiscal 2019, we expect net revenue to be in the range of $880 million to $890 million based on a total comparable sales increase in the low teens on a constant dollar basis. Diluted earnings per share are expected to be in the range of $0.90 to $0.92 for the quarter. This guidance assumes 131 million diluted weighted-average shares outstanding and a 28% tax rate. The guidance does not reflect potential future repurchases of the Company's shares.

lululemon athletica sees FY2019 EPS of $4.63-$4.70, versus the consensus of $4.65. lululemon athletica sees FY2019 revenue of $3.8-3.84 billion, versus the consensus of $3.81 billion.

• For the full fiscal 2019, we now expect net revenue to be in the range of $3.800 billion to $3.840 billion based on a total comparable sales increase in the low teens on a constant dollar basis. Diluted earnings per share are expected to be in the range of $4.63 to $4.70 for the full year, based on a 27.5% effective tax rate. The guidance assumes 131 million diluted weighted-average shares outstanding. The guidance does not reflect potential future repurchases of the Company's shares.

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