(MENAFN- ProactiveInvestors) (NASDAQ:LULU) rose in early trading Monday after the yoga apparel and accessories retailer raised its profit and sales outlook for its fiscal fourth quarter on the back of strong holiday sales results.
For the three months ending February 1 the company now expects diluted earnings per share of 71 to 73 cents compared to 65 to 69 cents previously.
Net revenue is anticipated to range between $595 to $600 million versus the prior guidance of $570 to $585 million.
The newest forecast is based on a total comparable sales increase between 6 to 7 percent on a constant dollar basis compared to a low single digits increase previously Lululemon said.
“Backed by improving trends and strong holiday results we are entering 2015 in very good shape" said president and chief executive officer Laurent Potdevin.
"Our guests are responding positively to both the women’s and men’s product assortment and with the build-out of our senior leadership team near completion I feel confident in our ability to execute on our growth strategies."
“Over the coming year we will complete the critical foundational business improvements already underway while also making disciplined strategic investments in our brand product guest experience and international expansion efforts with the expectation that we will begin to see operating margin leverage in 2016" he added.
Shares were up over 6 percent premarket in New York at US$62.25. As of January 9 market close the stock had risen almost 5.1 percent year-to-date.
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