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Lululemon earnings beat estimates, but shares fall on weaker-than-expected outlook

Pedestrians seen walking past Canadian athletic apparel retailer Lululemon in Shanghai.

Alex Tai | SOPA Images | LightRocket | Getty Images

Lululemon on Wednesday reported quarterly earnings and sales that topped analysts’ estimates, as more shoppers around the world picked up its yoga pants and sports bras. And its men’s business continued to grow.

But its shares fell as much as 6% in after-hours trading on the news, as Lululemon’s fourth-quarter outlook came in slightly below Wall Street expectations.

Here’s how the company did compared with what Wall Street was expecting, based on Refinitiv data:

  • Earnings per share: 96 cents, adjusted, vs. 93 cents expected
  • Revenue: $916 million vs. $899.7 million expected
  • Same-store sales: up 17% vs. growth of 14.4% expected

Lululemon earlier this week announced its Chief Operating Officer Stuart Haselden would be leaving, effective Jan. 10. He is transitioning to become the CEO at privately held luggage company Away.

Lululemon shares have skyrocketed more than 90% this year, making it one of the best-performing retailers on Wall Street. The stock before market close on Wednesday hit a fresh all-time, intraday high of $235.50. Lululemon has a market cap of about $30.4 billion.

Find the complete earnings press release here.

This is breaking news. Please check back for updates.

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