Retailer Lululemon raises financial guidance for its fourth quarter

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Lululemon Athletica\'s logo is seen on the outside of their new flagship store on Robson Street during it\'s grand opening in downtown Vancouver, B.C., on Thursday August 21, 2014. Lululemon Athletica Inc. is raising its financial guidance for its fourth-quarter. THE CANADIAN PRESS/Darryl Dyck

VANCOUVER – Lululemon Athletica Inc. is raising its financial guidance for its fourth-quarter.

The company, which keeps its books in U.S. dollars, says it now expects net revenue in a range of US$1.370 billion to $1.380 billion based on a total comparable sales increase in the mid to high teens on a constant dollar basis.

The new range is up with earlier guidance for net revenue of $1.315 billion to $1.330 billion based on a total comparable sales increase in the low double digits on a constant dollar basis.

Diluted earnings per share are expected to now be in a range of $2.22 to $2.25 for the fourth quarter.

Lululemon’s earlier guidance had been for diluted earnings per share of $2.10 to $2.13.

The company’s fourth quarter ends Feb. 2.

This report by The Canadian Press was first published Jan. 13, 2020.

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