Lululemon shares down 5% after company earnings

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Lululemon beats Q1 sales, earnings expectations

Shares of Lululemon Athletica Inc. rose 3% in the extended session Wednesday after the apparel retailer beat Wall Street’s first-quarter sales and profit expectations and said it continues to see “momentum” across its businesses. Lululemon earned $97 million, or 74 cents a share, in the quarter, compared with $75 million, or 55 cents a share, in the year-ago period. Revenue rose 20% to $782.3 million. Analysts polled by FactSet had expected earnings of 71 cents a share on sales of $756 million. For the second quarter of fiscal 2019, the company said it expects revenue between $825 million and $835 million, and EPS between 86 cents and 88 cents. For the full fiscal year, the company said it expects revenue in a range between $3.73 billion and $3.77 billion and EPS between $4.51 and $4.58. The shares had ended the regular trading session down 0.4%.

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