Lululemon forecasts upbeat holiday quarter

INTERNATIONAL NEWS

Lululemon forecasts upbeat holiday quarter


December 18, 2017


Canadian yoga and leisure apparel maker Lululemon Athletica Inc reported a higher-than-expected profit and gave an upbeat holiday-quarter forecast. The company sees holiday season as a great start as it is experiencing its highest traffic and largest sales ever on Black Friday and on Cyber Monday. The company said it expects holiday-quarter sales of $870 million to $885 million and an adjusted profit of $1.19 to $1.22 per share.

Total comparable sales rose 8 percent in the third quarter, fueled by double-digit growth in online traffic. The company said its targeted marketing efforts helped it to attract new customers to its stores and website and also generate more sales from loyal shoppers.