Lululemon Athletica raises revenue and profit guidance for fourth quarter
Shoppers line up to get into a Lululemon Athletica store in Ottawa's Rideau Centre mall on Boxing Day, Wednesday, Dec. 26, 2018. THE CANADIAN PRESS/Justin Tang
VANCOUVER -- Lululemon Athletica Inc. says its preliminary estimate indicates revenue and earnings per share were higher in the fourth quarter to than the company had expected.
The athletic clothing maker says it now expects net revenue for the quarter ended Feb. 3 will be in the range of $1.14 billion to $1.15 billion based on a total comparable sales increase in the mid-to-high teens on a constant dollar basis.
The forecast compares with its earlier guidance of net revenue of $1.115 billion to $1.125 billion based on a total comparable sales increase in the high-single to low-double digits on a constant dollar basis.
Lululemon also says it now expects expect diluted earnings per share will be in the range of $1.72 to $1.74 for the quarter based on a 30 per cent effective tax rate.
The guidance compared with its previous forecast for earnings per share of $1.64 to $1.67.
The company updated its guidance ahead of meetings with analysts and investors at an investment conference this week.