Pedestrians seen walking past Canadian Lululemon athletic clothing retailer in Shanghai.
Alex Tai | SOPA Images LightRocket | Getty Images
Lululemon said Monday that earnings and sales for the fourth quarter are now expected to come in at the high end of the previous show, thanks to strong performance over the holidays.
Ahead of meaningful meetings this week with analysts and investors at the annual ICR Conference, the company said it wants adjusted earnings per share to grow at the top end of mid-single-digit expectations previously mentioned. Net income for the quarter ended Jan. 31 is expected to top the mid-to-teen expectations, he said in a statement.
Lululemon shares were down more than 2% in pre-sale trading on Monday. The stock has risen more than 54% over the last 12 months.
“We are pleased with the move over the holiday period as our investments in lululemon and Mirror have allowed us to connect with guests physically and digitally,” CEO Calvin McDonald said in a statement.
In December, Lululemon reported third-quarter fiscal sales of $ 1.1 billion, representing 22% year-over-year growth.
Lululemon has not offered a full-year forecast due to the continuing effects of Covid’s pandemic.
Read the full release from Lululemon.