The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
VANCOUVER, Canada — Lululemon Athletica Inc. jumped as much as 7.6 percent in late trading after boosting its forecast, allaying fears that the athleisure market has lost a step.
The yoga-pants maker now expects earnings of as much as $2.48 a share this year, excluding some items. That compares with a previous range of up to $2.42. Lululemon also topped analysts’ estimates with its third-quarter sales and profit.
The upbeat results give Lululemon fresh momentum as it heads into the crucial holiday season — and signal that sporty apparel isn't falling out of favour with consumers. Nike Inc. and Under Armour Inc. have seen sales stall this year, stoking fears that peers like Lululemon will suffer as well. But chief executive Laurent Potdevin has been working to keep the company growing by adding new products and entering overseas markets.
“As we start the holiday season, I’m energised by our momentum,” Potdevin said in a statement. “We are increasing guidance to reflect this performance.”
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The shares rose as high as $72.80 in extended trading on Wednesday. They had risen 4.1 percent this year through the close.
Third-quarter earnings amounted to 56 cents, excluding certain items. That topped the 52-cent estimate. Comparable sales grew 8 percent, beating the 5.2 percent average estimate compiled by Consensus Metrix.
By Lindsey Rupp; editor: Nick Turner.
From analysis of the global fashion and beauty industries to career and personal advice, BoF’s founder and CEO, Imran Amed, will be answering your questions on Sunday, February 18, 2024 during London Fashion Week.
The State of Fashion 2024 breaks down the 10 themes that will define the industry in the year ahead.
Imran Amed reviews the most important fashion stories of the year and shares his predictions on what this means for the industry in 2024.
After three days of inspiring talks, guests closed out BoF’s gathering for big thinkers with a black tie gala followed by an intimate performance from Rita Ora — guest starring Billy Porter.