Lululemon's (LULU) Beats On Q4 Earnings, Holds Off Guidance
Zacks Investment Research | Mar 26, 2020 09:49PM ET
lululemon athletica inc. (NASDAQ:LULU) retained its positive streak in fourth-quarter fiscal 2019, with sales and earnings surpassing the Zacks Consensus Estimate and improving year over year. Results gained from strong demand before the COVID-19 outbreak along with a solid e-commerce performance.
Despite starting fiscal 2020 on a strong note, management did not issue any guidance due to the unprecedented impact of the coronavirus outbreak, which also led the company to close stores and limit operating hours. It is likely to be negatively impacted by store closures, especially in North America as the region accounts for a major portion of revenues. Also, lululemon’s aggressive efforts related to the men's clothing category and expansion of new products have been disrupted due to the ongoing crisis.
In spite of these headwinds, the company has been witnessing increasing demand for yoga mats and blocks in times of quarantine. Moreover, store closures have led to a rise in social media followers for its popular yoga classes.
lululemon athletica inc. Price, Consensus and EPS Surprise
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