=lululemon athletica (LULU) reported earnings on Wed 27 March 19 (a/h)

lululemon athletica beats by $0.10, beats on revs; guides Q1 EPS and comps above consensus; guides FY20 EPS and comps above consensus; Board authorizes $500M stock repurchase program

• Reports Q4 (Jan) earnings of $1.85 per share, $0.10 better than the S&P Capital IQ Consensus of $1.75; revenues rose 25.6% year/year to $1.17 bln vs the $1.15 bln S&P Capital IQ Consensus. 
• On January 14, co raised Q4 EPS to $1.72-1.74 from $1.64-1.67, revs to $1.14-1.15 bln from $1.115-1.125 bln and comparable sales to mid-to-high teens growth on a constant dollar basis from high-single to low-double digits on a constant dollar basis).
• Excluding net revenue from the 53rd week of fiscal 2018, total comparable sales increased 16%, or increased 17% on a constant dollar basis. Comparable store sales increased 6%, or increased 7% on a constant dollar basis. Direct to consumer net revenue increased 37%, or increased 39% on a constant dollar basis. Gross margin was 57.3%, an increase of 100 basis points compared to the fourth quarter of fiscal 2017
• Co issues guidance for Q1, sees EPS of $0.68-0.70 vs. $0.67 S&P Capital IQ Consensus; sees Q1 revs of $740-750 mln vs. $742.73 mln S&P Capital IQ Consensus, based on a total comparable sales increase in the low-double digits on a constant dollar basis vs. +8% ests in USD.
• Co issues guidance for FY20, sees EPS of $4.48-4.55 vs. $4.40 S&P Capital IQ Consensus; sees FY20 revs of $3.70-3.74 bln vs. $3.71 bln S&P Capital IQ Consensus, based on a total comparable sales increase in the low-double digits on a constant dollar basis vs. +8.2% ests in USD