WASHINGTON (dpa-AFX) - Shares of Lululemon Athletica Inc. (LULU) jumped over 7% in extended trading session on Tuesday after the company reported a fourth-quarter profit that surged from a year ago, driven largely by strong revenues. Earnings for the quarter trumped Wall Street estimates, while revenues came in line. Moving ahead, the yoga apparel retailer issued a strong outlook for the first quarter and full year 2022.
Lululemon's fourth-quarter profit rose to $434.5 million or $3.36 per share from $329.8 million or $2.52 per share last year.
Adjusted earnings for the quarter were $436.0 million or $3.37 per share, up from $337.4 million or $2.58 per share last year. Analysts polled by Thomson Reuters estimated earnings of $3.28 per share for the quarter.
Revenues for the quarter jumped 23% to $2.13 billion from $1.73 billion last year. Analysts had a consensus revenue estimate of $2.13 billion for the quarter.
Net revenue increased 21% in North America and increased 35% internationally. Total comparable sales increased 22%. The company opened 22 net new company-operated stores during the quarter, ending with 574 stores.
Commenting on the results, CEO Calvin McDonald said, '2021 was another successful year for lululemon, which speaks to the enduring strength of our brand and our ability to deliver sustained growth across the business. We are proud that we passed the $6 billion in annual revenue milestone for the first time, and successfully achieved our Power of Three growth target ahead of schedule.'
Looking forward to the first quarter, the company expects revenue of $1.525 billion to $1.550 billion and earnings of $1.38 to $1.43 per share. Analysts currently estimate earnings of $1.29 per share and revenues of $1.41 billion for the quarter.
For fiscal 2022, the company expects revenue of $7.490 billion to $7.615 billion and earnings of $9.15 to $9.35 for the year. Analysts currently estimate earnings of $9.06 per share and revenues of $7.30 billion.
LULU closed Tuesday's trading at $343.97, up $12.19 or 3.67%, on the Nasdaq. The stock further gained $25.04 or 7.28% in the after-hours trading.
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