=lululemon athletica (LULU) reported earnings Wed 8 June 2016 (b/o)

 lululemon athletica beats by $0.02, beats on revs; guides Q2 EPS below consensus, revs below consensus; raises FY17 revs in-line; sees FY17 EPS in-line :

• 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.

Outlook

• Co 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