Seen pedestrians passing by the Canadian sportswear store Lululemon in Shanghai.
Alex Tai | SOPA images | LightRocket | Getty Images
Lululemon said on Monday that it now expects fourth-quarter revenues and sales to hit the highest levels of the previous outlook, thanks to strong performance over the holiday season.
Ahead of virtual meetings this week with analysts and investors at the annual ICR conference, the company said it is calling for adjusted earnings per share to grow at the higher end of its previously announced mid-single-digit expectations. Net sales for the quarter ended Jan. 31 are expected to grow at the end of mid to high teens expectations, it said in a statement.
Lululemon shares were down more than 2% during Monday’s premarket trading. The stock is up more than 54% in the last 12 months.
“We are pleased with the momentum over the holiday season as our investments in lululemon and Mirror enabled us to engage with guests both physically and digitally,” Chief Executive Calvin McDonald said in a statement.
In December, Lululemon reported third-quarter revenue of $ 1.1 billion, a 22% year-over-year growth.
Lululemon has not offered a full year outlook due to the lingering effects of the Covid pandemic.
Read the full release of Lululemon.