Lululemon started at neutral with $90 stock price target at Wedbush

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Lululemon shares jump 9% on earnings beat, double-digit sales growth

Shares of Lululemon Athletica Inc. rallied 9% late Tuesday after the apparel company reported fourth-quarter earnings and sales above Wall Street expectations and a 12% comparable-store sales growth. Lululemon said it earned $120 million, or 88 cents a share, in the quarter, compared with $136 million, or 99 cents a share, in the year-ago period. Adjusted for one-time items, the company earned $1.33 a share in the quarter, compared with $1 a share a year ago. Sales rose 18% to $928.8 million, from $790 million a year ago. Analysts polled by FactSet had expected adjusted earnings of $1.27 a share on sales of $912 million for the quarter. The company said it expects sales between $612 million and $617 million for the first quarter. For full fiscal 2018, Lululemon said it expects sales between $2.985 billion and $3.022 billion, based on a total comparable sales increase in the mid-to-high single digits. Shares of Lululemon ended the regular session down 2%.

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