Vancouver-headquartered Lululemon Athletica Inc. (Nasdaq:LULU; TSX:LLL) expects its third-quarter store sales to double for the period ending October 31, 2007.
Sales are projected to rise around 35% compared with previous estimates of that percentage increase, which were in the mid-to-high teens, because of stronger volumes and the impact from a soaring Canadian dollar during the quarter.
The company expects third-quarter per-share earnings to rise to $0.06 compared with previous guidance of $0.05.
Lululemon's share price range during the past week: between: $40.10 and $45.68. The stock has seen a three-month high of $47.50 since it started trading in late July at $26.40.