By Mackenzie Tatananni
Lululemon Athletica stock climbed in premarket trading Monday after the athletic apparel company raised its earnings and revenue guidance for the fourth quarter.
Lululemon said it anticipates net revenue in the range of $3.56 billion to $3.58 billion, up from a prior range of $3.475 billion to $3.51 billion. Earnings per share are now expected at between $5.81 and $5.85, versus previous guidance of $5.56 to $5.64.
Shares of Lululemon were up 3.3% to $408.55 in premarket trading.
Chief Financial Officer Meghan Frank said the increased outlook stemmed from a strong customer response during the holiday season.
The athletic-wear company reported fiscal fourth-quarter revenue of $3.2 billion in 2023, in line with analysts' projections.
In its most recent quarter ended Oct. 27, Lululemon reported net revenue of $2.4 billion, slightly ahead of Wall Street's call for $2.36 billion. Earnings of $2.87 a share topped expectations for $2.71.
Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com
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(END) Dow Jones Newswires
January 13, 2025 08:01 ET (13:01 GMT)
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