By Aisha Al-Muslim
Lululemon Athletica Inc. (LULU) raised its outlook for revenue and earnings for the fiscal year, after the athletic apparel company posted first-quarter results on Wednesday that beat analysts' expectations.
For fiscal 2019, Lululemon said it now expects revenue of $3.73 billion to $3.77 billion, compared with its prior outlook of $3.7 billion to $3.74 billion. The company still expects comparable sales to increase in the low-double digits on a constant-dollar basis. The company is now forecasting earnings per share of $4.51 to $4.58 for the full year, vs. previous guidance of $4.48 to $4.55.
For the second quarter, the company guided revenue of $825 million to $835 million, compared with analysts' estimates of $835 million. The company also expects total comparable sales to increase in the low double digits on a constant-dollar basis for the quarter. The company also guided second-quarter earnings per share of 86 cents to 88 cents, compared with analysts' estimates of 88 cents a share.
Lululemon stock rose 4.2% to $178 in after-hours trading.
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