lululemon (LULU) Stock Jumps 7% on Q4 Beat and Raise, $1B Buyback By Investing.com

lululemon athletica (LULU) shares were trading around 7% higher after-hours following the companys reported Q4 results, with EPS of $3.37 coming in better than the consensus estimate of $3.27.

Revenue grew 23% year-over-year to $2.1 billion, slightly below the consensus estimate of $2.13 billion. North America’s revenue grew 21% and International revenue grew 35% year-over-year. Total comparable sales rose 22% year-over-year.

According to Calvin McDonald, CEO of lululemon athletica, the company passed the $6 billion (fiscal 2021 revenue up 42% to $6.3 billion) in annual revenue for the first time, and successfully met its Power of Three growth target ahead of schedule, despite challenging macro backdrop.

The company expects Q1/22 EPS in the range of $1.38-$1.43, compared to the consensus of $1.29, and revenue of $1.525-1.55 billion, compared to the consensus of $1.41 billion. For the full 2022-year, the company expects EPS of $9.15-$9.35, compared to the consensus of $9.06, and revenue of $7.49-7.615 billion, compared to the consensus of $7.3 billion.

Furthermore, the companys board of directors approved a $1 billion stock repurchase program of the companys common shares.