Lululemon Athletica inc (NASDAQ:LULU) shares were higher as the company unveiled strong holiday sales and updated its outlook fourth-quarter expectations.

The yoga apparel retailer said it expects net revenue $905 million to $915 million for the quarter ending Jan. 28, which would mark a year-over-year growth of 15% to 16%. Its Dec. 6 forecast for the quarter was for revenue of $870 million to $885 million.

Lululemon projects that it will earn between $1.24 and $1.26 per share for the period, up from its previous outlook of $1.18 to $1.21 per share. Its adjusted earnings are slated to be between $1.25 and $1.27 per share.

Wall Street was calling for an adjusted profit of roughly $1.22 per share, while revenue is slated to be $883.8 million, according to data compiled by Thomson Reuters. The positive results stem from a very successful holiday period that saw Lululemon experience its highest amount of traffic and largest sales during Black Friday and Cyber Monday.

“We are thrilled with our performance this holiday season that reflects an accelerating trend across all parts of our business, and we look forward to continued momentum in 2018 and beyond,” Lululemon CEO Laurent Potdevin said in a statement.

The company added that its forecast excludes the impact caused by the recent U.S. tax reform, but it expects to take a considerable tax charge in the quarter related to a one-time deemed repatriation tax on its foreign earnings.

LULU stock rose, before falling back down about 0.4% on Monday.