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Lululemon provides FY'18 outlook

Lululemon Athletica Inc. on March 27 gave its outlook for the fiscal year 2018 ending Jan. 31, 2019 as it reported financial results for the fourth quarter and full year of fiscal 2017 ended Jan. 28, 2018.

For the full fiscal year 2018, the athletic apparel retailer expects diluted earnings per share to be in the range of $3.00 to $3.08, assuming a $136.3 million diluted weighted-average shares outstanding and a 29% tax rate. Net revenue for the full year is projected to be between $2.99 billion and $3.02 billion based on a total comparable sales increase in the mid- to high-single digits on a constant dollar basis.

Meanwhile, for the full year of fiscal 2017, Lululemon saw its adjusted income from operations increase 19% year-over-year to $503.2 million. Adjusted diluted EPS came in at $2.59 compared to $2.14 last year, higher than the S&P Capital IQ mean consensus estimate of $2.53.

For the fourth quarter of fiscal 2017, the company's adjusted income from operations climbed 31% year-over-year to $258.1 million, while adjusted diluted EPS were $1.33 compared to $1.00 for the same period in 2016. The S&P Capital IQ mean consensus estimate for Lululemon's fourth-quarter normalized EPS was $1.27.