Lululemon has announced that it now expects revenue and earnings to be at the high end of its prior range of expectations for the fourth quarter of fiscal 2020 ending January 31, 2021.
Calvin McDonald, Chief Executive Officer, said “We’re pleased with the momentum over the holiday period as our investments in lululemon and MIRROR allowed us to connect with guests both physically and digitally. We remain confident about our opportunities in 2021 and committed to our ‘Power of Three’ growth plan.”
‘For the fourth quarter of fiscal 2020, compared to the fourth quarter of fiscal 2019, the company now expects the growth rate in net revenue to be at the high end of its mid-to-high teens expectation. The company also expects the growth rate in adjusted diluted earnings per share to now be at the high end of its mid-single digits expectation.’
In its previous third quarter of fiscal 2020, the company reported that:
- Net revenue increased 22% to US$1.1 billion. This was up 19% in North America, and 45% internationally.
- Direct to consumer net revenue increased 94% year on year, and represented 43% of total net revenue compared to 27% for the third quarter of fiscal 2019.
- Gross profit increased 24% to US$627.4 million and gross margin increased 100 basis points to 56.1%.
Members of the management team will be meeting virtually with analysts and investors at the company’s ICR Conference on January 11-13, 2021.
Lululemon is a healthy lifestyle inspired athletic apparel company for yoga, running, training, and most other sweaty pursuits. The brand adds that it is… ‘creating transformational products and experiences which enable people to live a life they love. Setting the bar in technical fabrics and functional designs, lululemon works with yogis and athletes in local communities for continuous research and product feedback.’
