Lululemon Athletica Inc.
He said he saw strong customer demand during the last Christmas shopping season, which led the active clothing retailer to increase its financial forecast for its current quarter.
The seller of yoga clothes, jogging pants and other items designed for training said on Monday that shoppers responded well to their merchandise during the critical Christmas shopping period.
rose 4.4% on Monday, to $ 245.18, a record high.
Lululemon boosted his business by selling women relatively expensive yoga pants and related clothing that could be worn during workouts and outside the gym. In doing so, he helped define the "athleisure" trend in active wear and in the generation of competitors.
The company has moved to keep shoppers interested by sponsoring events such as yoga classes in its stores and jogging sessions. He began testing a loyalty program in 2018 where consumers received pants or shorts, gym classes and free expedited shipping for an annual fee of $ 128.
Lululemon has also pressed to offer more clothing for men, including a $ 198 jacket and sweatpants that cost $ 128.
who assumed the position of executive director of the company in 2018, wants to double the Lululemon men's business at the end of 2023. Revenue from men's clothing increased 38% year-over-year in the third quarter of the company, amid strong sales of outerwear, pants and underwear.
The company from Vancouver, Canada, said Monday that it now expects to generate between $ 1.37 billion and $ 1.38 billion in revenue for its fourth fiscal quarter, which ends on February 2. He previously forecast no more than $ 1.33 billion for the period.
Lululemon now anticipates that he will earn $ 2.22 to $ 2.25 per share during the quarter, exceeding his previous earnings range.
Write to Micah Maidenberg at [email protected]
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