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Lululemon Athletica told Wall Street analysts on Monday that it anticipates reporting strong holiday sales growth for 2018.
Last year represents the best holiday sales period the retailer has registered in six years, according to CEO Calvin McDonald. "The momentum in our business remained strong throughout the holiday season, reflecting the ongoing success of our product offerings and our connection with guests around the globe," McDonald said in a press release.
The Canadian apparel chain boosted net revenue and earnings expectations for the 2018 fiscal fourth quarter (ending Feb. 3, 2019) to somewhere between $1.14 billion and $1.15 billion, up from the earlier projection of $1.115 billion to $1.125 billion, predicted at the end of the fiscal third quarter. The upgrade is based on a total comparable-sales increase in the mid-to-high teens for the quarter, McDonald said.
Same-store sales grew by 6 percent in the third quarter. As of the end of that quarter, Lululemon operates 426 stores, totaling 1.3 million square feet.
By Brannon Boswell
Executive Editor, Commerce + Communities Today
