Pedestrians were seen passing by Canadian sportswear retailer Lululemon in Shanghai.
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Lululemon said Monday that it now expects revenue and sales for the fourth quarter to come to an end on its previous outlook, thanks to strong holiday performance.
Ahead of this week’s virtual meetings with analysts and investors at the ICR Annual Conference, the company said it is calling for an increase in earnings per share adjusted to the high end of its previously announced single-digit expectations. Net income for the quarter ending Jan. 31 is expected to rise at the end of its peak average to the highest for teens, a statement said.
Lululemon shares fell more than 2% on premarket trading on Monday. The stock has increased by over 54% in the last 12 months.
“We are pleased with the momentum of the holiday season as our investment in lululemon and Mirror has allowed us to connect with guests both physically and digitally,” CEO Calvin McDonald said in a statement.
In December, Lululemon reported third-quarter fiscal sales of $ 1.1 billion, up 22% year-on-year.
Lululemon did not offer a year-round outlook due to the continuing effects of the Covid pandemic.
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