OTTAWA (dpa-AFX) - Athletic apparel company lululemon athletica inc. (LULU) on Monday raised its earnings and net revenue guidance for the fourth quarter of fiscal 2018, ending February 3, 2019.
For the fourth quarter, the company raised its earnings guidance to a range of $1.72 to $1.74 per share from the previous guidance range of $1.64 to $1.67 per share. Both based on a 30% effective tax rate.
The company also now projects net revenues for the quarter between $1.140 billion and $1.150 billion on a total comparable sales increase in the mid-to-high teens on a constant dollar basis, up from the prior forecast range of $1.115 billion to $1.125 billion on a total comparable sales increase in the high-single to low-double digits on a constant dollar basis.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $1.70 per share on revenues of $1.13 billion for the fourth-quarter. Analysts' estimates typically exclude special items.
'The momentum in our business remained strong throughout the holiday season, reflecting the ongoing success of our product offerings and our connection with guests around the globe,' said Calvin McDonald, CEO of lululemon.
Copyright RTT News/dpa-AFX