Shares of athletic apparel maker Lululemon rose more than 10 per cent in extended trade after the company shared a rosy outlook for its top and bottom lines.
The Vancouver-based company said it expected full-year profits of $14.27 to $14.47 a share for the full year on revenues between $10.7bn to $10.8bn. The profit forecast exceeds analysts’ estimates, according to a Reuters poll, and the top end of the revenue forecast is higher than analysts polled by Reuters expect.
Lululemon’s first-quarter results also exceeded consensus expectations. On an annual basis, revenue rose 10.4 per cent and earnings per share rose 11.4 per cent.
The upmarket retailer’s strong results come in contrast to discount retailer Five Below, which fell more than 14 per cent in after-hours trading on Wednesday after it posted a full-year sales outlook significantly lower than consensus forecasts.
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