LULU beats by 2 cents on higher than expected revenues, guides 2008 in line

Earned 21 cents vs. 19 cents expected on $105.1 million vs. $92.7 expected.

Robert Meers, lululemon’s CEO stated: “We are extremely pleased with the accelerated growth of our fourth quarter results. We believe that the strong momentum generated in 2007 puts us in great standing for 2008. The Company will continue to deliver innovative performance apparel, a distinctive store experience, and a community-based marketing approach, focusing on U.S. expansion.” Mr. Meers continued: “While the current overall consumer environment may be challenging, the increasing loyalty of our guests and our unique positioning in the historically resilient active and healthy-lifestyle market, are providing for continued acceptance of our brand.”

There are nearly 10 million shares of LULU shorted.