Lululemon sees earnings at top end of Outlook thanks to holidays

Pedestrians were seen walking with Canadian athletic apparel retailer Lululemon in Shanghai.

Alex Tai SOPA Images | Lightket | Getty Images

Lululemon said that earnings and sales are now expected for the fourth quarter on Monday, thanks to strong performance during the holidays to come to the high end of its former outlook.

Following virtual meetings this week with analysts and investors at the annual ICR conference, the company said it was calling for adjusted earnings per share, which rose to the high end of previously announced mid-single-digit expectations. Net revenue is expected to grow at the high end of its mid-high-teens expectations for the quarter ending January 31, it said in a statement.

Shares of Luluamon lost more than 2% in Monday trading. The stock has climbed over 54% in the last 12 months.

“We are more than happy with the holiday period because our investment in Luluamon and Mirror has allowed us to connect with guests physically and digitally,” Chief Executive Officer Calvin McDonald said in a statement.

In December, Lululemon reported sales of $ 1.1 billion in the fiscal third quarter, representing a 22% increase on the year.

Lululemon has not offered an approach for the entire year due to the ongoing effects of the Kovid epidemic.

Read the full release from Lululemon.


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