Lululemon Athletica Lifts FY Outlook

(RTTNews) - While reporting its third quarter results, Lululemon Athletica Inc. (LULU) lifted its outlook for the full year.

Looking forward to the full year, the yoga apparel retailer now expects adjusted earnings of $7.69 to $7.76 per share and revenues of $6.25 billion to $6.29 billion.

Previously, the company expected adjusted earnings of $7.38 to $7.48 per share and revenues of $6.19 billion to $6.26 billion.

Analysts polled by Thomson Reuters currently estimate earnings of $7.51 per share and revenues of $6.27 billion.

Meghan Frank, Chief Financial Officer, stated: "Our teams continue to execute at a high level, which has enabled our strong Q3 performance and the upward revision to our guidance. We are pleased with these results given the ongoing, industry-wide supply chain issues we continue to navigate. While there are several large volume weeks ahead of us, we feel well positioned for a strong end to 2021."

For the fourth quarter, the company expects adjusted earnings of $3.25 to $3.32 per share and revenues of $2.125 billion to $2.165 billion. Analysts currently estimate earnings of $3.30 per share on revenues of $2.17 billion.