Lululemon Athletica inc. (LULU) Narrows Q4 Guidance

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Lululemon Athletica inc. (NASDAQ:LULU) has updated its guidance for the fourth quarter 2016.

Lululemon Athletica inc., LULU

Source: lululemon website

Lululemon Athletica inc. narrowed its guidance for the fourth quarter of 2016. The athletic apparel company is expecting revenue for the fourth quarter of 2016 to be between $775 million to $785 million. Wall Street is expecting LULU to report revenue of $781.75 million.

Lululemon Athletica inc.’s previous guidance for the fourth quarter of 2016 had revenue falling between $765 million and $785 million. The company says that it increased its revenue guidance for the quarter because it expects comparable stores sales to increase in the mid-single digits on a constant dollar basis.

Lululemon Athletica inc. also updated its earnings per share estimates for the fourth quarter of 2016. It is now expecting earnings per share for the quarter to range from 99 cents to $1.01. Analysts are expecting the company to report earnings per share of 95 cents during this time.

Lululemon Athletica inc.’s previous earnings per share estimate for the fourth quarter of 2016 was between 96 cents and $1.01. The company’s earnings per share estimate continues to be based on an expected “137.3 million diluted weighted-average shares outstanding and a 31.2% tax rate.”

“We had a strong holiday season in both our store and digital channels driven by our assortment, operational execution and guest experience,” Laurent Potdevin, the CEO of Lululemon Athletica inc., said in a statement. “Our entire team is excited about the momentum in the business and I am grateful to our global collective for their great work and enthusiasm. We look forward to 2017 as we continue to advance on our long term goals.”

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