By Reuters
August 31, 2017

Canadian yoga and leisure apparel maker Lululemon Athletica reported a quarterly profit and revenue on Thursday that topped expectations, as same-store sales increased, particularly online.

The company reported earnings of $48.7 million, or 36 cents per share in the second quarter ended July 30. This exceeded the 35 cents per share analysts had forecast, according to Thomson Reuters. Adjusted diluted earnings, which excluded the impact of its Ivivva restructuring costs, was 39 cents a share.

Revenue rose 13% to $581.1 million, topping the estimated $567.79 million analysts had predicted.

Shares, which closed at $57.55 ahead of the results, rose 7.7% in after-market trading.

Sales at stores open for more than a year grew 7%, above the average 4% rise 27 analysts had expected, according to Thomson Reuters data.

Online sales from its website soared 30% on a constant dollar basis. Excluding an online warehouse sale during the quarter, net revenue rose 16% online.

Vancouver-based Lululemon (lulu), which announced it was closing its money-losing Ivivva stores in June, raised its forecast and now said it was expecting to earn between $2.545 billion and $2.595 billion in full-year net revenue, up from its previous outlook of $2.53 billion to $2.58 billion.

Full-year adjusted diluted earnings per share, excluding the impact of Ivivva, was expected to come in between $2.35 and $2.42.

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