Lululemon Raises Holiday-Quarter Forecast on Strong Athleisure Demand
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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Most Discussed
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10