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Lululemon Lifts Q4 Sales, Profit Outlook After Holiday Shopping Season
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Main points
- Lululemon on Monday raised its fourth-quarter revenue and profit forecasts.
- The sportswear retailer’s finance chief said “guests have responded well to its festive offering”.
- The new estimate is higher than analyst forecasts compiled by Visible Alpha.
Sportswear Retailer lululemon sport (Lulu) increased sales and Earnings per share (EPS) Monday’s forecast for the fourth quarter comes after a strong holiday shopping season.
The company expects that in the fourth quarter income Between $3.56 billion and $3.58 billion, up from the previous range of $3.475 billion to $3.51 billion. That puts the company’s sales forecast above the $3.52 billion consensus forecast compiled by analysts at Visible Alpha.
Lululemon also raised its earnings per share guidance to $5.81 to $5.85 per share, above the previous range of $5.56 to $5.64 and analysts’ expectations of $5.64.
CFO says ‘Guests are responding well to our products’
“Our guests responded well to our product offerings during the holiday season, allowing us to increase our guidance for the fourth quarter,” Lululemon said. CFO Megan Frank said.
Lululemon made the change ahead of management’s meeting with investors and analysts at this week’s ICR conference in Orlando, Florida.
Shares were little changed about an hour after trading opened on Monday.
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