Lululemon boosts outlook after strong holiday season
Shoppers responded to Lulu's 'innovative merchandise offerings'
Lululemon Athletica raised its outlook for the rest of its fiscal year 2019 after a strong holiday shopping season, sending shares higher.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| LULU | LULULEMON ATHLETICA INC. | 360.00 | -4.59 | -1.26% |
The athletic-apparel maker expects fourth-quarter diluted earnings per share to be in the range of $2.22 to $2.25, up from its previous forecast of $2.10 to $2.13. Fourth-quarter net revenue is now forecast to be in the range of $1.37 billion to $1.38 billion, the result of a comparable sales increase in the mid to high teens on a constant dollar basis, above its previous outlook of $1.315 billion to $1.33 billion.
LULULEMON LOOKS TO MEN AS FEMALE ATHLEISURE BRANDS BALLOON
"We're excited by the momentum in our business over the holiday period with guests responding well to our innovative merchandise offerings," CEO Calvin McDonald said in a statement.
Lululemon's strong holiday season comes amid a mixed retail landscape. Amazon and Macy's were among the retailers who posted strong results while Kohl's and J.C. Penney disappointed.
Lululemon has not yet confirmed a date for its fourth-quarter earnings release.
On Dec. 11, the company reported third-quarter revenue rose 23 percent year-over-year to $916.1 million. Diluted earnings per share were 96 cents, up from 71 cents the previous year.
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Shares are up 1.4 percent so far in 2020 after gaining 90.5 percent last year.