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Lululemon Athletica raises quarterly profit projection Tuesday, 10th January 2012
Lululemon Athletica, the Canadian yoga wear retailer, has said it expects fourth quarter profit and revenue to be higher than previously anticipated after encouraging sales during the festive period.
The company has predicted earnings per share in a range of 47 to 49 Canadian cents in the fourth quarter ended 28 January, up from its previous guidance range of 40 to 42 Canadian cents per share.
Revenue is estimated at between CAD 358 million and CAD 327 million, up from previous expectations of a figure between CAD 327 and CAD 332.
Same-store sales are predicted to rise more than 20 per cent.
"Our work throughout the year building our inventory position is driving our success in the fourth quarter," Lululemon Chief Executive Christine Day said in a statement.