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Lululemon raises Q4 guidance following 'strong' holiday sales

Lululemon Athletica Inc. raised its sales and earnings projection for the fourth quarter of fiscal 2018, ending Feb. 3, on the back of "strong" sales throughout the holiday season.

"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," said Lululemon CEO Calvin McDonald.

The Canadian sportswear retailer said it expects EPS to fall in the range of $1.72 to $1.74 for the quarter, an increase from the previously projected range of $1.64 to $1.67, the company said in a Jan. 14 news release.

The company also anticipates net revenue to be between $1.14 billion and $1.15 billion, up from the prior guidance of $1.12 billion to $1.13 billion.

Lululemon said the outlook assumes 133 million diluted weighted-average shares outstanding.

The guidance also excludes certain discrete tax expenses related to U.S. tax reform and repatriation, which the company expects to recognize during the fourth quarter. It also excludes the expected tax benefit from recent changes in legislation and guidance related to global intangible low-taxed income taxes.