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Lululemon Athletica raises financial guidance for fourth quarter

Vancouver-based fashion giant feeling more confident about the coming fiscal quarter
A Lululemon outlet in Vancouver | Rob Kruyt, BIV

Lululemon Athletica Inc. has raised its financial guidance for its fourth quarter.

The Vancouver-based athletic clothing retailer, which keeps its books in U.S. dollars, says it now expects net revenue will be in the range of US$3.17 billion to US$3.19 billion.

The previous guidance range was US$3.135 billion to US$3.17 billion.

Lululemon also says it now expects its diluted earnings per share for its fourth quarter to be in a range of US$4.96 to US$5.

Its earlier guidance had been for a range of US$4.85 to US$4.93 per diluted share.

The company says it expects its gross margin to be in a range of 58.6 per cent to 58.7 per cent for the fourth quarter compared with its earlier guidance of 58.3 per cent to 58.6 per cent.

This report by The Canadian Press was first published Jan. 8, 2024.

The Canadian Press