Lululemon Athletica Inc. updated its net revenue and earnings guidance for the fourth quarter of fiscal 2016 ending January 29, 2017, now anticipating net revenue in the range of $775 million to $785 million, based on a total comparable sales increase in the mid single digits on a constant dollar basis.
This compares to previous guidance of net revenue in the range of $765 million to $785 million for the fourth quarter.
The company also now expects diluted earnings per share will be in the range of 99 cents to $1.01 for the fourth quarter. The previous EPS guidance for the fourth quarter was a range of 96 cents to $1.01.
“We had a strong holiday season in both our store and digital channels driven by our assortment, operational execution and guest experience. Our entire team is excited about the momentum in the business and I am grateful to our global collective for their great work and enthusiasm. We look forward to 2017 as we continue to advance on our long-term goals,” said Laurent Potdevin, CEO of Lululemon.
Management will be meeting with analysts and investors and presenting at the ICR Conference in Orlando, FL this week.
Photo courtesy Lululemon