Lululemon raises Q4 revenue and profit guidance
Lululemon raises Q4 revenue and profit guidance

business

Lululemon raises Q4 revenue and profit guidance

Lululemon Athletica Inc., updating its net revenue and earnings guidance for the fourth quarter of fiscal 2018 ending February 3, 2019 has said that the company now anticipates net revenue to be in the range of 1.140 billion dollars to 1.150 billion dollars based on a total comparable sales increase in the mid-to-high teens on a constant dollar basis. This compares to its previous guidance of net revenue of 1.115 billion dollars to 1.125 billion dollars based on a total comparable sales increase in the high-single to low-double digits on a constant dollar basis.

"The momentum in our business remained strong throughout the holiday season, reflecting the ongoing success of our product offerings and our connection with guests around the globe," said Calvin McDonald, CEO of Lululemon in a statement.

Lululemon now expects diluted earnings per share will be in the range of 1.72 dollars to 1.74 dollars for the fourth quarter based on a 30 percent effective tax rate compared to previous diluted earnings per share guidance of 1.64 dollars to 1.67 dollars based on a 30 percent effective tax rate.

The company added that revised guidance for the fourth quarter continues to assume 133 million diluted weighted-average shares outstanding.

Picture:Lululemon website