The company's mixed report made shares of Lululemon waver in after-hour trading Thursday.
Lululemon Athletica beat estimates and raised fiscal-year guidance. But the stock wavered around the breakeven point Thursday, as same-store sales came in below expectations.
Lululemon also raised guidance for the quarter. The company now expects net revenue to range between $9.51 billion to $9.57 billion. Diluted earnings per share are expected to be in the range of $12.02 to $12.17 for the year. Previous guidance called for revenue to clock in between $9.44 billion and $9.51 billion. Earnings per share were expected to range between $11.74 to $11.94 for the year.Still, shares of Lululemon dipped 0.3% in after-hours trading Thursday.
“While the macro environment has become increasingly challenging, we’ve seen that high momentum brands have continued to perform well,” wrote Wedbush analyst Tom Nikic in a Wednesday note. Lululemon is one of those brands, he added.
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