Lululemon is increasing its forecast for fourth quarter net revenue after a strong December, the yoga wear-maker said January 12.
The company expects net revenue to be between $595-$600 million for fiscal Q4, which ends February 1.
This is an upward revision from its previous estimate of between $570-$585 million .
“Backed by improving trends and strong holiday results, we are entering 2015 in very good shape,” said Lululemon CEO Laurent Potdevin.
“Our guests are responding positively to both the women’s and men's product assortment, and with the build-out of our senior leadership team near completion, I feel confident in our ability to execute on our growth strategies.”
The company has increased its forecast for diluted earnings per share to between $0.71 and $0.73 for the quarter, up from the $0.65 to $0.69 range.
This optimistic outlook is in contrast to the somewhat dismal forecast the athletic-wear chain predicted in December after third-quarter results were announced. At that time, Potdevin had said in an investor conference call that delays at West Coast ports, where shipments had been delayed by over a week, and a weakening Canadian dollar would hurt the company’s bottom line in Q4.
This announcement comes less than a week after the company announced a new CFO, Stuart Haselden, would be joining Lululemon in February. Haselden has worked as CFO and executive vice-president of J.Crew since 2012.
