VANCOUVER, Canada — Lululemon Athletica Inc said on Monday it had a strong holiday shopping season and raised its profit and revenue forecasts for the fourth quarter.
The holiday quarter is critical for retailers and can account for up to 40 percent of their annual revenue.
"We are thrilled with our performance this holiday season that reflects an accelerating trend across all parts of our business, and we look forward to continued momentum in 2018 and beyond," Lululemon chief executive Laurent Potdevin said in a statement.
The Canadian yoga and leisure apparel maker said it now expects net revenue of $905 million to $915 million for the fourth quarter ending January 28.
The company had forecast net revenue of $870 million to $885 million when it had reported third-quarter results in December.
Vancouver-based Lululemon expects earnings of $1.24 to $1.26 per share, up from its previous forecast of $1.18 to $1.21.
On an adjusted basis, it raised its earnings forecast to between $1.25 and $1.27 per share.
Analysts were expecting an adjusted profit of $1.22 per shares and revenue of $883.8 million, according to Thomson Reuters IBES.
Lululemon will report fourth-quarter results on March 27.
By Nivedita Bhattacharjee; editor: Savio D'Souza.