Pedestrians saw Lululemon passing by Canadian sportswear retailer in Shanghai.
Dai Datong | SOPA Pictures | Light Rocket Getty Images
Lululemon said on Monday that due to the strong performance during the holiday period, it now expects fourth-quarter revenue and sales to reach the high end previously expected.
Before holding a virtual meeting with analysts and investors at the ICR annual meeting this week, the company said it requires adjusted earnings per share to grow to the high end of the previously announced mid-single-digit forecast. The company said in a statement that it expects its net income for the quarter ended January 31
In premarket trading on Monday, Lululemon’s stock price fell more than 2%. In the past 12 months, the stock has risen by more than 54%.
Chief Executive Calvin McDonald said in a statement: “Because our investment in lululemon and Mirror allows us to connect with guests physically and digitally, we feel the momentum during the holidays happy.”
In December, Lululemon reported sales of $1.1 billion in the third fiscal quarter, an increase of 22% year-on-year.
Due to the continuing impact of the Covid pandemic, Lululemon did not provide a full-year outlook.
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