Pedestrians were seen passing by Canadian sportswear retailer Lululemon in Shanghai.
Alex Tai | SOUP Pictures | LightRocket | Getty Images
Lululemon said Monday it now expects fourth-quarter earnings and sales to reach the top of its previous outlook, thanks to strong holiday performance.
Ahead of virtual meetings this week with analysts and investors at the ICR annual conference, the company said it is asking adjusted earnings per share to grow at the end of its previously announced one-digit average expectations. In a statement, net income for the quarter ending Jan. 31 is expected to grow at the end of medium to high teen expectations.
Shares of Lululemon fell more than 2% in pre-market trading on Monday. Shares have risen more than 54% in the last twelve months.
“We are pleased with the momentum over the holiday period as our investments in lululemon and Mirror allowed us to connect with guests both physically and digitally,” Calvin McDonald, chief executive, said in a statement.
In December, Lululemon recorded third-quarter fiscal sales of $ 1.1 billion, representing 22% year-over-year growth.
Lululemon has not offered year-round prospects due to the ongoing effects of the Covid pandemic.
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