US: Lululemon Athletica raises fourth quarter forecasts
Luluemon Athletica has raised its fourth-quarter guidance on the back of stronger than anticipated net revenue for the quarter.
The active wear brand said yesterday (19 January) that it now expects diluted earnings per share to be in the range of US$0.47-0.49, up on its previous forecast of $0.40-0.42.
Net revenue is now expected to reach $358-363m, up on original forecasts of $327-332m. Comparable-store sales are expected to reflect a low-to-mid twenties percentage increase on a constant-dollar basis.
"Our work throughout the year building our inventory position is driving our success in the fourth quarter," said CEO Christine Day. "Guests have responded exceptionally well to the robust assortment and bright colour palette for holiday, and momentum continues with the new spring product offerings."
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Specialist apparel operator Lululemon Athletica posted a 40.2% surge in first-quarter net profits, but its outlook suggests same-store sales growth is set to slow....
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