Pedestrians are seen passing through Canadian sportswear retailer Lululemon in Shanghai.
Alex Tai | SOPA images | LightRocket | Getty Images
Lululemon said on Monday that he now expects fourth quarter profits and sales to reach the upper limit of his previous forecast, thanks to strong performance over the holidays.
Ahead of virtual meetings this week with analysts and investors at the annual ICR conference, the company said it is asking for adjusted earnings per share to grow at the upper end of its previously announced half-digit expectations. Net revenue for the quarter ended Jan. 31 is expected to grow at the upper limit of her teenagers’ expectations, she said in a statement.
Lululemon’s shares fell more than 2% in Monday’s pre-market. The shares have risen more than 54% in the last 12 months.
“We are pleased with the momentum during the holiday period, as our investments in lululemon and Mirror have enabled us to connect with guests both physically and digitally,” Chief Executive Calvin McDonald said in a statement.
In December, Lululemon reported third-quarter fiscal sales of $ 1.1 billion, representing a 22% year-over-year growth.
Lululemon did not offer a year-round forecast due to the continuing effects of the Covid pandemic.
Read the full Lululemon release.