Hey, I have an idea. Why don’t Chip Wilson, former CEO and founder of LULU, get some financing to takeover LULU and bring it private? It’d make for great theatre, wouldn’t it?
Chip has been very outspoken as of late, regarding how LULU is being managed. These numbers that were just released will not make him a happy golfer.
Reports Q1 (Apr) earnings of $0.33 per share, $0.02 better than the Capital IQ Consensus of $0.31; revenues rose 17.0% year/year to $495.5 mln vs the $487.82 mln Capital IQ Consensus.
Total comparable sales, which includes comparable store sales and direct to consumer, increased by 6%, or by 8% on a constant dollar basis.
Comparable store sales increased by 3%, or by 5% on a constant dollar basis.
Direct to consumer net revenue increased by 17% to $97.6 million, or by 18% on a constant dollar basis.
OutlookCo issues downside guidance for Q2, sees EPS of $0.36-0.38 vs. $0.39 Capital IQ Consensus Estimate; sees Q2 revs of $505-515 mln vs. $513.59 mln Capital IQ Consensus Estimate.
Q2 total comparable sales in the mid-single digits on a constant dollar basis
Co issues in-line guidance for FY17, sees EPS of $2.08.2.18 vs. $2.15 Capital IQ Consensus Estimate; sees FY17 revs of $2.305-2.345 bln vs. $2.33 bln Capital IQ Consensus Estimate and compared to $2.285-2.335 bln prior
The stock isn’t getting hammered to small little pieces, as you would expect. It’s down just 2% in the pre market.
Update: LULU reversed and is now trading higher by 3%.
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$UA and $LULU should merge to destroy Nike.