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Ahead of the ICR Conference scheduled for January 8-10, 2024, Lululemon Athletica (NASDAQ:LULU) raised its Q4 earnings outlook, signaling strong growth.
The company now expects net revenue in the range of $3.170B to $3.190B, representing a 14% to 15% increase Y/Y. This outlook surpassed the previous guidance range of $3.135B to $3.170B and the consensus estimate of $3.18B
Diluted EPS are now expected to be in the range of $4.96 to $5.00 for the quarter, increased from the previous guidance range of $4.85 to $4.93 and the consensus of $4.97.
Additionally, the company expects gross margin to be in the range of 58.6% to 58.7% for the quarter, outpacing the prior guidance range of 58.3% to 58.6%.
Notably, there is no change to the company’s previous guidance for selling, general, and administrative expenses or effective tax rate.
Meghan Frank, Chief Financial Officer, commented: “We are pleased with our performance during the holiday season, as guests continue to respond well to our innovative and versatile product offerings. Our sales trend remains balanced across channels, categories, and geographies, enabling us to raise our guidance for the fourth quarter and close out another strong year.”
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