Earnings

Pedestrians seen walking past Canadian athletic apparel retailer Lululemon in Shanghai.

Alex Tai | SOPA Images | LightRocket | Getty Images

Lululemon Athletica raised its quarterly sales and profit outlook on Monday, boosted by strong holiday season demand.

The athleisure apparel retailer now expects profit per share for the quarter ending Feb. 2 to be between $2.22 and $2.25, up from its prior range of $2.10 to $2.13.

Lululemon in December had forecast its holiday quarter sales largely below Wall Street expectations.

The Vancouver, Canada-based company’s improved forecast comes after retailers including Kohl’s, Macy’s, and J.C. Penney reported mixed holiday results amid competition from e-commerce giants including Amazon.com.

Lululemon also raised its quarterly net revenue forecast to between $1.37 billion and $1.38 billion, from $1.32 billion to $1.33 billion.

The company’s shares, which have risen 1.4% so far this year, nearly doubled in 2019.

Products You May Like

Articles You May Like

Virus outbreak to cost Chinese box office at least $210 million this weekend, data shows
Powerball jackpot jumps to $373 million. Why taking a lump sum may backfire
JP Morgan earnings crush analysts’ estimates as bond trading revenue surges by nearly 90%
Why some life insurance could prove risky for consumers
Goldman won’t take companies public without ‘at least one diverse board candidate,’ CEO says

Leave a Reply

Your email address will not be published. Required fields are marked *