Lululemon Athletica, Inc. expects fiscal 2023 fourth-quarter net revenue to be in the range of $3.17 billion to $3.19 billion, representing a 14 percent to 15 percent increase compared to the fourth quarter of fiscal 2022. The previous guidance range was $3.14 billion to $3.17 billion.
Diluted earnings per share are now expected to be in the range of $4.96 to $5.00 for the fourth quarter of fiscal 2023 compared to the company’s previous guidance range of $4.85 to $4.93.
The company now expects gross margin to be in the range of 58.6 percent to 58.7 percent for the fourth quarter of fiscal 2023, compared to its previous guidance of 58.3 percent to 58.6 percent. There is no change to the company’s previous guidance for selling, general, and administrative expenses or effective tax rate.
The revised forecast comes in advance of the ICR investor conference this week.
“We are pleased with our performance during the holiday season, as guests continue to respond well to our innovative and versatile product offerings,” commented company CFO Meghan Frank. “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.”
