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Lululemon shares up more than 3% after Q4'19 outlook boost

Lululemon Athletica Inc. shares surged more than 3% on Jan. 13 after the retailer raised its earnings and sales guidance for the fourth quarter of fiscal 2019, citing a strong holiday period.

Diluted EPS for the fourth quarter ending Feb. 2 is now expected to be between $2.22 and $2.25 compared, to the previous outlook of $2.10 to $2.13. Analysts expect GAAP EPS for the fourth quarter to come in at $2.16, according to data compiled by S&P Global Market Intelligence.

Net revenue for the quarter is now expected to be between $1.37 billion and $1.38 billion, up from a previous range of $1.32 billion and $1.33 billion. Comparable sales for the quarter are expected to increase in the mid- to high teens on a constant-dollar basis, compared to the previous expectation of an increase in the low double digits on a constant-dollar basis.

"We're excited by the momentum in our business over the holiday period with guests responding well to our innovative merchandise offerings," company CEO Calvin McDonald said in a statement.

In midday trading, the retailer's shares were up 3.6% at $243.29.