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Black Friday buyers at a Lululemon retailer on the Garden State Plaza in New Jersey.
Mike Calia | CNBC
Lululemon on Thursday stated it noticed robust third-quarter demand, however the retailer’s shares fell as it gave a tepid holiday outlook.
Despite a 12% bounce in gross sales in North America and a 49% spike internationally, the retailer’s holiday steering got here in gentle of expectations. Lululemon stated its anticipated gross sales to be between $3.14 billion and $3.17 billion for the fourth quarter, which is shy of the $3.18 billion analysts had anticipated, in accordance with LSEG, previously recognized as Refinitiv.
It expects earnings to be between $4.85 and $4.93 per share, in comparison with estimates of $4.80 to $5.19, in accordance with LSEG. For the complete yr, Lululemon expects gross sales to be between $9.55 billion and $9.58 billion, in comparison with estimates of $8.11 and $9.90 billion, in accordance with LSEG.
Here’s how the corporate did in its third fiscal quarter:
- Earnings per share: $2.53 adjusted. It wasn’t instantly clear if the figures had been comparable, with what Wall Street was anticipating, primarily based on a survey of analysts by LSEG
- Revenue: $2.20 billion vs. $2.19 billion anticipated
The firm’s reported web earnings for the three-month interval that ended October 29 was $249 million, or $1.96 per share, in contrast with $255 million, or $2 per share, a yr earlier.
Sales rose to $2.2 billion, up about 19% from $1.86 billion a yr earlier.
“This was one other robust quarter for lululemon as our modern product choices and neighborhood activations continued to powerfully resonate with our visitors globally. As we enter the holiday season, we’re happy with our early efficiency and are well-positioned to ship for our visitors within the fourth quarter,” CEO Calvin McDonald stated in a information launch. “I’m energized by the numerous alternatives forward.”
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