Athletic-apparel retailer Lululemon Athletica Inc. on Dec. 11 raised its fiscal 2019 guidance after reporting third-quarter results that exceeded analyst's estimates.
For fiscal 2019, Lululemon now expects diluted EPS in the range of $4.75 to $4.78, up from the previous guidance range of $4.63 to $4.70.
The Canada-based company raised its full-year net revenue forecast to the range of $3.90 billion to $3.91 billion from the previous outlook range of $3.80 billion to $3.84 billion.
Lululemon projects its total comparable sales in the year to increase in the mid-teens on a constant-dollar basis.
The company expects its fourth-quarter diluted EPS to be in the range of $2.10 to $2.13. Net revenue for the quarter is projected to come in between $1.32 billion and $1.33 billion, while the total comparable sales are expected to increase in the low double digits on a constant-dollar basis.
For the third quarter ended Nov. 3, Lululemon's diluted EPS came in at 96 cents, compared to 71 cents in the same quarter of fiscal 2018. The S&P Global Market Intelligence consensus estimate for normalized EPS was 93 cents.
Net revenue for the three months grew 23% year over year to $916.1 million. The company's total comparable sales during the quarter increased by 17% on a constant-dollar basis.
Lululemon shares fell 4.3% to $223.09 in late trading Dec. 11.