Proactive Investors - Lululemon Athletica (NASDAQ:LULU) Inc announced on Monday that it is raising its fourth-quarter sales and profit forecasts following better-than-expected holiday sales.
The athletic apparel maker said it now expects fourth-quarter 2023 net revenue will be in the range of $3.170 billion to $3.190 billion, a 14% to 15% increase from the same period last year.
Its previous guidance range was revenue of $3.135 billion to $3.170 billion.
Lululemon’s profit for the holiday period, meanwhile, is now expected to be in the range of $4.96 to $5 per share, compared with its prior guidance of $4.85 to $4.93.
"Our sales trend remains balanced across channels, categories, and geographies, enabling us to raise our guidance for the fourth quarter and close out another strong year," Lululemon chief financial officer Meghan Frank said in a statement.
Frank had struck a more cautious tone in December when the company’s 4Q revenue guidance lagged analyst estimates.
Shares of Lululemon Athletica (NASDAQ:LULU) slipped 1% to $485.98 in early Monday trading.