jumped more than 10% in after-hours trading Wednesday after the company reported fourth-quarter results that topped Wall Street estimates. The company's full-year profits guidance also topped expectations. Adjusted earnings per share :$4.48 to $4.55, versus $4.41.that it expected net revenue of between $1.14 billion and $1.15 billion, up from its prior forecast of $1.115 billion and $1.125 billion.
The Canadian retailer also authorized a $500 million buyback program. In the fourth-quarter, the company bought back 1.5 million shares of its stock at an average cost of $120.99 per share.Last quarter proved to be a mixed bag for the company. Whilethat beat out Wall Street estimates on both the top and bottom lines, shares fell due to the weaker-than-expected outlook.
Those results, along with the updated guidance back in January, is why investors were focused on the company's forward outlook in Wednesday's report, said Deutsche Bank analysts led by Paul Trussell. "We remain confident in the company's superior growth ahead with product innovation and expansion and a long international runway," they wrote in a note to clients last week.Read more markets coverage from Markets Insider and Business Insider:
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