Lululemon Athletica (NASDAQ:LULU) announced that profit in the quarter ended April 29 rose to $46.6 million, or 32 cents per share, from $33.4 million, or 23 cents per share, in the same period last year. Analysts expected a profit of 30 cents per share. Revenue increased by 53 percent to $285.7 million from $186.8 million. Analysts expected revenue of $274 million. Revenue in stores open at least a year increased by 25 percent. However, the company predicts earnings of 28 cents to 30 cents per share on revenue of $273 million to $278 million in the current quarter, below estimates. For the full year, the company also provided guidance of earnings per share of $1.55 to $1.60 on revenue of $1.32 billion to $1.34 billion.
Shares are lower by about 9.4 percent.
Lululemon competes with smaller athletic apparel manufacturers like Under Armour (NYSE:UA) and Columbia Sportswear (NASDAQ:COLM).
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