Canada’s Lululemon Athletica (LULU) has raised its fourth quarter (Q4) sales and profit forecasts on strong sales during the recent holiday season.
Previously, the athletic apparel maker had forecast tepid holiday sales amid concerns over weakening consumer spending.
But now, Lululemon says that it is pleased with its performance during the Christmas shopping season.
The Vancouver-based company said in a news release that it now expects Q4 revenue of $3.170 billion U.S. to $3.190 billion U.S.
That compares with a previous forecast of $3.135 billion U.S. to $3.170 billion U.S. in sales.
In terms of profit, Lululemon says it now expects earnings per share (EPS) of $4.96 U.S. to $5 U.S., compared with its previous forecast of $4.85 U.S. to $4.93 U.S.
Lululemon’s stock has risen 64% over the last 12 months and currently trades at $491.10 U.S. per share on the Nasdaq exchange.
