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LULU, Chewy Beat Estimates Handily; Markets Await Jobs Numbers
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Markets swung with some pronounced volatility in the last hour or so of trading today: after struggling to re-establish intraday highs in positive territory, with roughly 15 minutes left in the regular session indexes dipped notably, only to spring back moments before the closing bell. The Dow closed down 0.3% — its first down day in the last four — as did the S&P 500, while the Nasdaq came close to breakeven, -0.1%. The Russell 2000 turned things around today, finishing up 1.72%.
Nothing much to see here. The 10-year, while higher in recent history at 1.71%, is down from the 1.77% even more recently. West Texas Intermediate (WTI) crude was down 2%. Bitcoin was up by about the same amount, but none of these figures on their own signify very much at all today. Consumer Confidence for March came in well ahead of expectations: 109.7 versus 98.6 expected and 90.4 last month. It is also the highest we’ve seen since the 118.8 exactly one year ago.
lululemon athletica (LULU - Free Report) posted fiscal Q4 earnings results after the closing bell, putting up healthy beats on both top and bottom lines: $2.58 per share easily surpassed the $2.49 expected and the $2.28 per share reached in the year-ago quarter. Revenues grew 21% to 1.73 billion, above the $1.66 billion our analysts were looking for. Total comps also rose 21%, with Direct-to-Consumer firing on all cylinders, while Stores sales were predictably down.
Guidance also went beyond recent expectations (going into this earnings release, the Zacks consensus put LULU at a rank of #3 [Hold]), with 86-90 cents per share expected for fiscal Q1 on between $1.10-1.13 billion in sales, improvements over the 84 cents and $1.01 billion expected, respectively. Current year expectations of between $6.30-6.45 per share and $5.55 billion-$5.65 billion on the top line further point the “athleisure” giant in the right direction.
Online pet supplies company Chewy Inc. (CHWY - Free Report) also beat estimates, swinging to a positive bottom line of 5 cents per share from an expected -$0.09. Revenues of $2.04 billion was also an impressive upgrade from the $1.96 billion expected, representing roughly 50% growth year over year. The company now counts 19.2 million active customers, and celebrates its first quarter of positive net income. Shares are close to breakeven on the year, +9% on the earnings release after being down 10% year to date.
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
Image: Bigstock
LULU, Chewy Beat Estimates Handily; Markets Await Jobs Numbers
Markets swung with some pronounced volatility in the last hour or so of trading today: after struggling to re-establish intraday highs in positive territory, with roughly 15 minutes left in the regular session indexes dipped notably, only to spring back moments before the closing bell. The Dow closed down 0.3% — its first down day in the last four — as did the S&P 500, while the Nasdaq came close to breakeven, -0.1%. The Russell 2000 turned things around today, finishing up 1.72%.
Nothing much to see here. The 10-year, while higher in recent history at 1.71%, is down from the 1.77% even more recently. West Texas Intermediate (WTI) crude was down 2%. Bitcoin was up by about the same amount, but none of these figures on their own signify very much at all today. Consumer Confidence for March came in well ahead of expectations: 109.7 versus 98.6 expected and 90.4 last month. It is also the highest we’ve seen since the 118.8 exactly one year ago.
lululemon athletica (LULU - Free Report) posted fiscal Q4 earnings results after the closing bell, putting up healthy beats on both top and bottom lines: $2.58 per share easily surpassed the $2.49 expected and the $2.28 per share reached in the year-ago quarter. Revenues grew 21% to 1.73 billion, above the $1.66 billion our analysts were looking for. Total comps also rose 21%, with Direct-to-Consumer firing on all cylinders, while Stores sales were predictably down.
Guidance also went beyond recent expectations (going into this earnings release, the Zacks consensus put LULU at a rank of #3 [Hold]), with 86-90 cents per share expected for fiscal Q1 on between $1.10-1.13 billion in sales, improvements over the 84 cents and $1.01 billion expected, respectively. Current year expectations of between $6.30-6.45 per share and $5.55 billion-$5.65 billion on the top line further point the “athleisure” giant in the right direction.
Online pet supplies company Chewy Inc. (CHWY - Free Report) also beat estimates, swinging to a positive bottom line of 5 cents per share from an expected -$0.09. Revenues of $2.04 billion was also an impressive upgrade from the $1.96 billion expected, representing roughly 50% growth year over year. The company now counts 19.2 million active customers, and celebrates its first quarter of positive net income. Shares are close to breakeven on the year, +9% on the earnings release after being down 10% year to date.
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The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>