Lululemon raises its quarterly forecast after upbeat holiday sales

Earnings

Pedestrians seen walking past Canadian athletic apparel retailer Lululemon in Shanghai.

Alex Tai | SOPA Images | LightRocket | Getty Images

Lululemon Athletica raised its quarterly sales and profit outlook on Monday, boosted by strong holiday season demand.

The athleisure apparel retailer now expects profit per share for the quarter ending Feb. 2 to be between $2.22 and $2.25, up from its prior range of $2.10 to $2.13.

Lululemon in December had forecast its holiday quarter sales largely below Wall Street expectations.

The Vancouver, Canada-based company’s improved forecast comes after retailers including Kohl’s, Macy’s, and J.C. Penney reported mixed holiday results amid competition from e-commerce giants including Amazon.com.

Lululemon also raised its quarterly net revenue forecast to between $1.37 billion and $1.38 billion, from $1.32 billion to $1.33 billion.

The company’s shares, which have risen 1.4% so far this year, nearly doubled in 2019.

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