Stock jumps, best sales estimates

Lululemon reported Wednesday a first-quarter profit and revenue higher than analysts' estimates, pushing equities up nearly 4% after the session.

This is what the sportswear manufacturer reported about what Wall Street was waiting for, according to a Refinitiv survey conducted by analysts:

• Earnings per share: 74 cents per share, versus 70 cents per share, expected
• Revenues: $ 782 million, compared to $ 755 million, forecast

The company has also raised its forecasts for the whole year. The group expects revenues between $ 3.73 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 reached $ 96.6 million, or 74 cents per share, compared to $ 75.2 million, or 55 cents per share.

Shares of Lululemon, at the close of trading Wednesday, have jumped more than 40% this year. By the end of April, the stock had hit a record $ 179.50 per share but has recently fallen back to around $ 170.

The comparable store business figure, a key indicator of retailer activity, increased by 14%, exceeding the Refinitiv consensus estimate of 11.6%.

"Lululemon continues to see a strong momentum in all of its business," wrote General Manager Calvin McDonald.

He added that Lululemon was optimistic about future opportunities and the realization of his five-year growth plan, which aimed to double the incomes of men and digital, and quadruple international revenues.