- Prachi Singh |
Lululemon Athletica Inc. now expects revenue and earnings to be at the high end of its prior range of expectations for the fourth quarter of fiscal 2020 ending January 31, 2021.
Commenting on the updated outlook, Calvin McDonald, the company’s Chief Executive Officer, said in a statement: “We’re pleased with the momentum over the holiday period as our investments in Lululemon and Mirror allowed us to connect with guests both physically and digitally.”
For the fourth quarter of fiscal 2020, the company now expects the growth rate in net revenue to be at the high end of its mid-to-high teens expectation. The company also expects the growth rate in adjusted diluted earnings per share to now be at the high end of its mid-single digits expectation.
In December, the company had reported sales of 1.1 billion dollars, representing growth of 22 percent for the third quarter.