By Adriano Marchese
Lululemon athletica said it now expects revenue and profit to be higher than previously thought for the fourth quarter as shoppers flocked to its stores over the Christmas and holiday period.
The Vancouver, British Columbia-based athletic lifestyle brand said Monday that it now expects revenue to be between $3.56 billion and $3.58 billion, representing a growth of between 11% and 12% over the fourth quarter of fiscal 2023.
Previously, Lululemon guided for revenue of $3.48 billion to $3.51 billion, while analysts on FactSet expected a growth to $3.47 billion.
The company noted that, excluding the 53rd week of 2024, this growth amounts to 7%.
Diluted earnings per share expectations have also been upgraded, now forecasted to be in the range of $5.81 to $5.85 compared with the company's previous guidance range of $5.56 to $5.64 a share.
Analysts expected $5.66 a share.
Chief Financial Officer Meghan Frank said that shoppers during the holiday season responded well to its product offering, allowing the retailer to increase its fourth quarter guidance.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
January 13, 2025 06:56 ET (11:56 GMT)
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