Canadian activewear brand Lululemon Athletica is upping its sales and profit guidance on the back of strong holiday-period sales.
The athleisure brand said for the fourth quarter of fiscal 2019 ending February 2, it is expecting net revenue of between CAD1.37bn-CAD1.38bn. This is up from previous guidance of CAD1.32bn-CAD1.33bn.
Diluted earnings per share, meanwhile, are expected to range between CAD2.22-CAD2.25, up from previous guidance of CAD2.10-CAD2.13.
CEO Calvin McDonald said: “We’re excited by the momentum in our business over the holiday period with guests responding well to our innovative merchandise offerings. The connection we have with our guests remains strong, and I want to thank our teams across the globe for their hard work and dedication throughout 2019.”
In its most recent earnings announcement, third-quarter profits rose 33.4% to CAD125.9m. Net sales grew 23% to CAD916.1m.
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