Lululemon Athletica is expecting a good Christmas.
The Vancouver, British Columbia-based athletic apparel and accessories company on Monday updated its revenues and earnings expectations for the fourth quarter.
The company now expects sales and profits to be at the high end of its prior expectations for the three-month period ending Jan. 31 — or the high end of mid-to-high teens expectations for revenues and high end of mid-single digit growth in adjusted diluted earnings per share. That’s on top of the more than $1 billion in revenues the company logged last quarter.
“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,” Calvin McDonald, Lululemon’s chief executive officer, said in a statement. “We remain confident about our opportunities in 2021 and committed to our Power of Three growth plan.”
Shares of Lululemon, which closed down 0.50 percent on Friday to $365.46, are up about 55 percent year-over-year.
Source: Read Full Article