Lululemon boosts revenue, earnings outlook for Q4
Innovative product offerings and an equally strong holiday season pushed Lululemon Athletica to raise its fourth-quarter expectations.
For the quarter ending Feb. 2, the apparel retailer expects net revenue to be between $1.370 billion and $1.380 billion, based on comparable store sales that are expected to increase to the mid to high teens. This new estimation is compared to the company’s previous guidance of net revenue of $1.315 billion to $1.330 billion based on a same-store sales increase of low double digits.
Lululemon also increased its earnings per share, which it now expects will be in the range of $2.22 to $2.25 for the fourth quarter. This compares to the company’s previous earnings per share guidance of $2.10 to $2.13.
"We're excited by the momentum in our business over the holiday period with guests responding well to our innovative merchandise offerings,” said Calvin McDonald, Lululemon’s CEO. “The connection we have with our [customers] remains strong…”