lululemon athletica (LULU) Higher After Raising Q3 Guidance
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- lululemon athletica (LULU) Higher After Raising Q3 Guidance
- lululemon athletica (LULU) Raises Q3 Guidance
lululemon athletica inc. (NASDAQ: LULU) has increased its third quarter guidance, reflecting stronger than anticipated net revenues for the quarter ending November 1, 2009.
The yoga-inspired athletic apparel company now forecasts a diluted EPS in the range of $0.17 to $0.19, compared to the previous range of $0.11 to $0.13.
lululemon now expects net revenue for the third-quarter to finish between $110 million to $112 million, up from the previous $95 million to $100 million range. The third quarter net revenue for the company was $87 million in 2008.
"Our sourcing and production strategies designed to chase inventory and keep pace with renewed sales momentum proved to be very effective during this fall season," stated Christine Day, lululemon's CEO. By staying in stock in our core items, as well as our new running line and seasonal outerwear offerings, we have been able to satisfy strong guest demand and exceed our original revenue expectations for the quarter."
lululemon has received a push in after-market movement after reporting the improved guidance, trading at $27.75, up 8.52 percent.
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