VANCOUVER - Lululemon Athletica Inc. says it had a strong holiday selling season and has updated its estimates for fourth-quarter net revenue and profit.
The Vancouver-based clothing company now estimates it will have at least US$775 million of revenue for its fourth quarter, up $10 million from the low end of the previous estimate. The high end of the range remains US$785 million in net sales.
Similarly, Lululemon now expects to earn at least 99 cents US per diluted share, up three cents from the low end of the previous range. Its top estimate remains US$1.01 per share.
The company's revised outlook is in line with consensus estimates compiled by Thomson Reuters. They estimate Lululemon will have about US$782 million in revenue and US$1 per share of earnings in the quarter ending Jan. 29.
Lululemon is scheduled to release its full fourth-quarter and fiscal 2017 results on March 30.
