Lululemon Athletica bullish on Q4
Lululemon Athletica Inc. offered a very positive update on its fourth-quarter performance fueled by strong holiday sales.
The company said it now expects adjusted earnings per share and revenue for the quarter ended Jan. 31 to be at the "high end" of its previous guidance ranges. Lululemon had previously said it expected fourth-quarter revenue growth in the mid-to-high teens percentage range and adjusted EPS growth in the mid-single digits.
In December, the company reported that its second-quarter sales increased 22% to $1.1 billion. During the second quarter, Lululemon began selling Mirror, an at-home interactive exercise device, in select stores and on its website. The company acquired Mirror in June.
"We're pleased with the momentum over the holiday period as our investments in Lululemon and Mirror allowed us to connect with guests both physically and digitally," said CEO Calvin McDonald.