By Yasin Ebrahim
Investing.com – Lululemon Athletica reported Tuesday second-quarter earnings and revenue that beat analysts’ forecasts, led by strong digital sales.
Lululemon Athletica (NASDAQ:) was down about 1% in after-market trading.
The company announced per share of 74 cents on revenue of $902.9 million. Analysts polled by Investing.com anticipated EPS of 54 cents on revenue of $842.31 million.
Direct-to-consumer net revenue was $554.3 million, an increase of 155% compared to the second quarter of fiscal 2019.
Company-operated stores net revenue was $287.2 million, a decrease of 51% compared to the second quarter of fiscal 2019.
The company said that as the temporary store closures from Covid-19 have resulted in a significant number of stores being removed from its comparable store base, it believes “total comparable sales and comparable store sales are not currently representative of the underlying trends of its business.”
Lululemon Athletica shares are up 51% from the beginning of the year, thought still down 12.53% from their 52-week high of $399.88 set on Sept. 2. They are outperforming the Nasdaq, which is up 20.9% from the start of the year.
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