Lululemon Athletica Inc. on Sept. 5 raised its profit outlook for fiscal 2019 after reporting second-quarter results that beat expectations.
The athletic-apparel retailer now expects diluted EPS for the full year in the range of $4.63 to $4.70 compared to the previous guidance range of $4.51 to $4.58. It also now forecasts net revenue to be in the range of $3.80 billion to $3.84 billion from a prior outlook of $3.73 billion and $3.77 billion.
In addition, it projects total comparable sales to grow in the low teens on a constant dollar basis.
Lululemon expects its third-quarter diluted EPS to come in between 90 cents and 92 cents and net revenue to be in the range of $880 million to $890 million.
For the second quarter ended Aug. 4, Lululemon's diluted EPS came in at 96 cents compared to 71 cents in the same quarter of fiscal 2018. The S&P Global Market Intelligence consensus estimate for normalized EPS was 89 cents.
Net revenue for the three-month period grew 22% year over year to $883.4 million from $723.5 million. Income from operations also jumped 25% year over year to $168 million.
