Signage at a Lululemon store in New York on Aug. 22, 2024.
Yuki Iwamura | Bloomberg | Getty Images
Lululemon raised its fourth quarter earnings and revenue guidance on Monday after seeing a strong response from shoppers during the all-important holiday season.
The athletic apparel company now expects sales to grow between 11% and 12% to between $3.56 billion and $3.58 billion, up from a previous range of $3.48 billion and $3.51 billion.
Excluding an additional fiscal week the company will have in the fourth quarter of 2024, Lululemon expects sales growth of between 6% and 7%.
The company also hiked its profit outlook. Lululemon is now forecasting fourth-quarter earnings per share to be between $5.81 and $5.85, compared to previous guidance of between $5.56 and $5.64. It expects gross margins to grow by 0.3 percentage points after previously forecasting they would decline between 0.2 and 0.3 percentage points.
Shares rose about 4%…
