Shares Of Lululemon Athletica Inc. (LULU) Hit 52-Week High

(RTTNews) - Shares of athletic apparel company lululemon athletica inc. (LULU) hit a new 52-week high of $243.30 on Monday, after the company raised its financial guidance for the fourth quarter.

For the fourth quarter of fiscal 2019, the company now expects net revenue in the range of $1.370 billion - $1.380 billion, based on a total comparable sales increase in the mid to high teens on a constant dollar basis. This compares to the company's previous guidance of net revenue of $1.315 billion - $1.330 billion.

lululemon now expects earnings per share to be in the range of $2.22 - $2.25 for the fourth quarter, versus the previously communicated range of $2.10 - $2.13.

Analysts polled by Thomson Reuters expect the company to report earnings of $2.15 per share on revenue of $1.35 billion for the quarter. Analysts' estimate typically exclude certain special items.