Lululemon Athletica Inc. announced the company now expects revenue and earnings to be at the high end of its prior range of expectations for the fourth quarter of fiscal 2020 ending January 31.
Calvin McDonald, chief executive officer, commented: “We’re pleased with the momentum over the holiday period as our investments in Lululemon and Mirror allowed us to connect with guests both physically and digitally. We remain confident about our opportunities in 2021 and committed to our Power of Three growth plan.”
For the fourth quarter of fiscal 2020 compared to the fourth quarter of fiscal 2019, the company now expects the growth rate in net revenue to be at the high end of its mid- to high-teens expectation. The company also expects the growth rate in adjusted diluted earnings per share to now be at the high end of its mid-single digits expectation.
Lululemon has not offered an outlook for the full year due to the ongoing effects of the Covid pandemic.
Members of the management team will be meeting virtually with analysts and investors at the ICR Conference on January 11 to 13, 2021.
Photo courtesy Lululemon