Lululemon Athletica Inc., a yoga-inspired athletic apparel firm, is thrilled with its performance this holiday season. The company is now anticipating its net revenue to be in the range of US $ 905 million to US $ 915 million, based on the increase in the total comparable sales in the high-single digit.
The company had earlier forecast net revenue of US $ 870 million to US $ 885 million when it had announced the third-quarter results in December 2017. Pertinent to mention that the holiday season accounts for up to 40 per cent of Lululemon’s annual income.
For the full year 2017, the apparel company hopes to have net revenue in the range of US $ 2.590 billion to US $ 2.605 billion. It reported a 14 per cent surge in its net revenue to US $ 619.0 million during the third quarter of the current financial year. “We are hoping to continue with the same momentum in 2018 and time to come,” said Laurent Potdevin, CEO, Lululemon in the statement issued by the company.
Further, the retailer expects to note the growth in the menswear segment, as well, in the coming years. Stuart Haselden, COO at Lululemon said that the category will account for 25 per cent of its total business by 2020.
Lululemon will release its fourth-quarter financial results on March 27, 2018.