Press release
lululemon athletica inc. Updates Guidance for the Fourth Quarter of Fiscal 2019 Ahead of the ICR Conference
VANCOUVER, British Columbia--(BUSINESS WIRE)-- lululemon athletica inc. (NASDAQ:LULU) today announced that the Company is updating its net revenue and
About this update from Lululemon Athletica Inc.
[{"type":"text","content":" VANCOUVER, British Columbia--(BUSINESS WIRE)--\nlululemon athletica inc. (NASDAQ:LULU) today announced that the Company is updating its net revenue and earnings guidance for the fourth quarter of fiscal 2019 ending February 2, 2020.\n\n\nCalvin McDonald, Chief Executive Officer, commented: \"We're excited by the momentum in our business over the holiday period with guests responding well to our innovative merchandise offerings. The connection we have with our guests remains strong, and I want to thank our teams across the globe for their hard work and dedication throughout 2019.\"\n\n\nFor the fourth quarter of fiscal 2019, we now anticipate that net revenue will be in the range of $1.370 billion to $1.380 billion based on a total comparable sales increase in the mid to high teens on a constant dollar basis. This compares to our previous guidance of net revenue of $1.315 billion to $1.330 billion based on a total comparable sales increase in the low double digits on a constant dollar basis.\n\n\nWe now expect diluted earnings per share will be in the range of $2.22 to $2.25 for the fourth quarter. This compares to our previous diluted earnings per share guidance of $2.10 to $2.13.\n\n\nOur revised guidance for the fourth quarter continues to assume 131 million diluted weighted-average shares outstanding and a 28.5% tax rate.\n\n\nMembers of the management team will be meeting with analysts and investors at the ICR Conference in Orlando, Florida on January 13-15, 2020.\n\n\nAbout lululemon athletica inc.\n\n\nlululemon athletica inc. (NASDAQ:LULU) is a healthy lifestyle inspired athletic apparel company for yoga, running, training, and most other sweaty pursuits, 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. For more information, visit www.lululemon.com.\n\n\nForward-Looking Statements:\n\n\nThis press release includes estimates, projections, statements relating to our business plans, objectives, and expected operating results that are \"forward-looking statements\" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securitie...