By Canadian Press

Lululemon says fourth-quarter sales and profit at top end of expectations

Jan 11, 2021 | 5:52 AM

VANCOUVER — Lululemon Athletica Inc. says revenue and earnings for its fourth quarter are forecast to come in at the top end of its earlier expectations.

The athletic clothing retailer says it now expects its percentage growth rate for net revenue compared with a year ago to be at the high end of its earlier expectations for mid-to-high teens.

Lululemon also says it expects its growth rate for adjusted diluted earnings per share to now be at the high end of its earlier expectations for a result in the mid-single digits.

The fourth quarter of Lululemon’s 2020 financial year ends on Jan. 31.

The company issued the updated guidance ahead of meetings with analysts and investors at an investment conference this week.

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Lululemon chief executive Calvin McDonald says the company remains confident about its opportunities in 2021 and committed to its growth plan.

This report by The Canadian Press was first published Jan. 11, 2021.

The Canadian Press