Lululemon narrows guidance for fourth quarter
Lululemon Athletica Inc. said Monday it now expects fourth-quarter revenue to range from $775 million to $785 million, narrower than its previous guidance of $765 million to $785 million. The FactSet consensus is for revenue of $782 million. The retailer of yoga gear said it expects same-store sales to rise in the mid-single digits on a constant dollar basis. The company is expecting per-share earnings of 99 cents to $1.01, compared with a previous range of 96 cents to $1.01. The FactSet consensus is for EPS of $1.00. "We had a strong holiday season in both our store and digital channels driven by our assortment, operational execution and guest experience," Chief Executive Laurent Potdevin said in a statement. Shares were down 0.8% in premarket trade, but have gained 26.6% in the last 12 months, while the S&P 500 has gained 18%.
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