Lululemon is stretching the limits of inflationary times, proving that even cautious consumers are still craving athleticwear.
“These results illustrate the strength and differentiation of our omni operating model and position us well to deliver ongoing value for our stakeholders. We look forward to a strong finish to our fiscal year.”
But investors were not satisfied with the retailer’s fourth-quarter guidance. Shares fell nearly 10 percent in after-hours trading as a result. For the fourth quarter, Lululemon anticipates net sales will be in the range of $2.60 billion to $2.65 billion. Diluted earnings per share are expected in the range of $4.20 to $4.30 for the quarter.
Net revenues for the full year are expected in the range of $7.94 billion to $7.99 billion, with diluted earnings per share in the range of $9.94 to $10.04. Executives on the conference call acknowledged a challenging macro environment. But Frank added that the firm is expecting tailwinds in the form of reduced freight prices going forward. And despite an increasingly promotional environment, Lululemon anticipates fourth-quarter markdowns in line with 2019 levels.The retailer ended the quarter with 623 stores. Earlier this year, Lululemon
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