Recent Lululemon news is giving LULU stock a boost on Monday with an update to its guidance.
Lululemon (NASDAQ:LULU) is providing an update to its guidance for the fourth quarter of 2018. This includes the company now expecting revenue for the quarter ranging from $1.140 billion to $1.150 billion. The previous outlook was for revenue between $1.115 billion to $1.125 billion. This Lululemon news is good for LULU stock as Wall Street is looking for revenue of $1.13 billion.
According to Lululemon, the increase to its revenue guidance for the fourth quarter of 2018 is due to stronger comparable sales. The company says that it was previously expecting a comparable sales increase from high-single to low-double digits for the quarter. Now it expects comparable sales for the period to be up in the mid-to-high teens.
The Lululemon news today also includes an update to its earnings per share guidance for the fourth quarter of the year. LULU is now expecting earnings per share for the quarter to come in between $1.72 to $1.74. The athletic apparel retailer’s previous earnings per share guidance ranged from $1.64 to $1.67. This is a boon to LULU stock as analysts are expecting earnings per share of $1.71 for the fourth quarter of 2018.
“The momentum in our business remained strong throughout the holiday season, reflecting the ongoing success of our product offerings and our connection with guests around the globe,” Calvin McDonald, CEO of Lululemon, said in a statement. “I speak for the entire leadership team in thanking all our teams around the world for delivering a strong 2018.”
LULU stock was up 6% as of Monday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.
