17/01/2013

Business news :Lululemon Athletica Ups Fourth Quarter Guidance

Lululemon Athletica Inc. increased guidance for its net revenue and earnings for the fourth quarter of fiscal 2012 ending Feb. 3, 2013.

The maker and retailer of yoga-inspired apparel now anticipates that net revenue will be at the high end of its original guidance range of $475 million to $480 million based on a comparable-store sales percentage increase in the high single digits on a constant-dollar basis.
 
The company also now expects diluted earnings per share will be 74 cents for the quarter. The previous guidance for the fourth quarter was a range of 71 to 73 cents. EPS guidance continues to assume 145.9 million diluted weighted-average shares outstanding and a 29.4 percent tax rate.

“Our store managers, key leaders and educators stepped up and did a fantastic job this year as the calendar compressed holiday shopping patterns into a couple of key weeks,” said Christine Day,  Lululemon’s CEO. “We are also pleased that our gross margin is running slightly ahead of plan, and that we are entering 2013 in a clean inventory position. Along with our new back to gym product, we are beginning to flow a beautiful new spring assortment into our stores this week and look forward to introducing new innovation and function to our guests in 2013.” 
 
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