Lululemon has boosted its sales forecast for its fourth quarter due to its performance over the festive period.
The activewear company now expects its net sales for Q4 to be “toward the high end” of its previously guided range of £2.59bn ($3.5bn) to £2.66bn ($3.585bn).
The business said there was no change to its prior guidance for its gross margin, selling, general and administrative expenses, or the effective tax rate.
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Lululemon chief financial officer Meghan Frank said: “Based on our performance over the holiday period, we expect to achieve the higher end of our previously communicated fourth quarter net revenue and EPS guidance.
“We remain focused on executing our action plan to drive improvement in our U.S. business and look forward to the opportunities in front of us.”
The trading update comes after Lululemon recently revealed that its CEO Calvin McDonald would be departing from the retailer this year, after seven years in the role.
McDonald is set to leave his position as CEO and member of the board of directors on 31 January.
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