Lululemon Athletica Inc. announced that the company is raising its guidance for the fourth quarter of fiscal 2011 ending Jan. 29, 2012. For the fourth quarter of fiscal 2011, the company now expects diluted earnings per share to be in the range of 47 cents to 49 cents as compared to its previous guidance range for diluted earnings per share of 40 cents to 42 cents. The company's improved guidance reflects stronger than anticipated net revenue for the quarter.
The company now expects net revenue to be in the range of $358 million to $363 million for the fourth quarter of fiscal 2011. This compares to the company's previous guidance of net revenue in the range of $327 million to $332 million for the quarter, and compares to net revenue of $245 million for the fourth quarter of fiscal 2010. Comparable-store sales for the fourth quarter of fiscal 2011 are expected to reflect a low-to-mid twenties percentage increase on a constant-dollar basis. This compares to the company's previous guidance of low to mid-teens comparable-store sales for the fourth quarter of fiscal 2011.
Christine Day, Lululemon's CEO stated: “Our work throughout the year building our inventory position is driving our success in the fourth quarter. Guests have responded exceptionally well to the robust assortment and bright color palette for holiday, and momentum continues with the new spring product offerings.”