By Yasin Ebrahim
Investing.com - Lululemon Athletica (NASDAQ:LULU) raised its annual guidance Thursday after third-quarter results topped expectations.
Lululemon Athletica shares was up more than 2% in after-hours trade following the report.
Lululemon Athletica announced earnings per share of $1.62 on revenue of $1.45 billion. Analysts polled by Investing.com anticipated EPS of $1.40 on revenue of $1.43 billion.
Margins increased 210 basis points to 57.2%.
Comparable sales increase 27%, while retail-only increased 32%.
For the fourth quarter of 2021, EPS was expected to be in a range of $3.24 to $3.31 a share on revenue of $2.125 billion to $2.165 billion. Compared with expectations for EPS of $3.31 on revenue of $2.17 billion.
For 2021, EPS guided in a range of $7.38 to $7.45 on revenue of $6.250 billion to $6.290 billion. That compared with the previous guidance for EPS $7.38 to $7.48 and revenue of $6.19 billion to $6.26 billion. Wall Street was expected EPS of $7.52 on revenue of $6.28 billion.
Looking ahead, the company said it while there "are several large volume weeks ahead of us, we feel well positioned for a strong end to 2021."
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