Democratic candidates take the stage together for the first time as they jockey for position in the race to take on President Trump in 2020.2020 Electionsread more
In a strategy to draw attention away from Wednesday's Democratic debate, President Donald Trump's reelection campaign bought out YouTube's "masthead," the leading...2020 Electionsread more
Virginia Sen. Mark Warner breaks down the idea behind a bipartisan bill he introduced to provide more transparency in Big Tech.Technologyread more
Tesla is working on new battery cell designs, and a way to make their own cells, with R&D teams in a lab near its car plant in Fremont, California.Technologyread more
These attacks have given the public the opportunity to examine the problems associated with ransomware, where corporations -- not obligated to disclose these attacks -- have...Technologyread more
"As a private company we don't have the tools to make the Russian government stop," Facebook CEO Mark Zuckerberg said at the Aspen Ideas Conference on Wednesday. "We can...Technologyread more
Something unusual is happening in financial markets, and it could mean more gains lie ahead for stocks, if history is any indication.Marketsread more
Underneath the impressive market rally is a trend that doesn't seem quite right, according to J.P. Morgan.Marketsread more
Venezuelan President Nicolas Maduro said security forces had foiled an opposition coup attempt that included plans to assassinate him and other top political figures.World Politicsread more
Credit Suisse initiated coverage of Tesla Wednesday with an "underperform" rating and a price target 15% below where the stock closed.Marketsread more
Wi-Fi 6 will be the next-generation wireless standard. Along with 5G, it will represent the next big shift in connectivity and data, said Irving Tan, senior vice president and...Shaping the futureread more
Lululemon on Wednesday reported first-quarter earnings and sales that outpaced analyst estimates, sending shares up nearly 4% in after-hours trading.
Here's what the athletic apparel maker reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:
The company also raised its full-year guidance. It expects revenue between $3.73 billion and $3.77 billion, and earnings per share between $4.51 and $4.58 in 2019.
For the first quarter ended May 5, net income rose to $96.6 million, or 74 cents a share, from $75.2 million, or 55 cents a share.
Lululemon shares, as of Wednesday's market close, have surged more than 40% this year. The stock at the end of April hit an all-time high of $179.50 per share, but more recently has fallen back down to around $170.
Same-store sales, a key indicator for the retailer's business, grew 14%, beating a Refinitiv consensus estimate for 11.6% growth.
On the company's earnings call, CFO Patrick Guido said that Lululemon's second-quarter forecast, which was lower than analyst estimates, reflects a "modest impact" from potential new tariffs, as well as additional costs to airfreight products in order to avoid anticipated port congestion in Asia due to pending tariff increases.
Most of the impact from tariffs will occur in the latter half of the year, mostly in the third quarter, Guido said. He expects these additional costs to trim earnings per share by about 5 cents in 2019.
"Lululemon continues to see strong momentum across the entire business," wrote Chief Executive Officer Calvin McDonald.
He added that Lululemon was optimistic about future opportunities and delivering on its five-year growth plan, which aims to double men's and digital revenues, and to quadruple international revenues.