Lululemon Raises Holiday-Quarter Forecast on Strong Athleisure Demand

Reuters
01-13

Jan 13 (Reuters) - Lululemon Athletica on Monday raised its current-quarter sales and profit targets, as the sportswear maker benefited from strong demand for its apparel during the holiday shopping season.

Lululemon's shares were up 6.5% in premarket trading.

Department store operator Nordstrom raised its annual forecast last week on the back of robust sales during the holidays as deep discounts on apparel and home decor items helped attract deal-hunting customers to its outlets.

Lululemon now expects quarterly net revenue in the range of $3.560 billion to $3.580 billion, and profit per share between $5.81 to $5.85.

This compared with its prior targets of net revenue in the range of $3.475 billion to $3.510 billion, and profit per share between $5.56 to $5.64.

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