lululemon athletica inc. Updates Revenue and Earnings Expectations for the Fourth Quarter Ahead of the ICR Conference
08 Janeiro 2024 - 8:30AM
Business Wire
lululemon athletica inc. (NASDAQ:LULU) today announced that, for
the fourth quarter of fiscal 2023, the Company now expects net
revenue will be in the range of $3.170 billion to $3.190 billion,
representing a 14% to 15% increase compared to the fourth quarter
of fiscal 2022. The previous guidance range was $3.135 billion to
$3.170 billion.
Diluted earnings per share are now expected to be in the range
of $4.96 to $5.00 for the fourth quarter of fiscal 2023 compared to
the Company’s previous guidance range of $4.85 to $4.93.
The Company now expects gross margin to be in the range of 58.6%
to 58.7% for the fourth quarter of fiscal 2023, compared to its
previous guidance of 58.3% to 58.6%. There is no change to the
Company’s previous guidance for selling, general, and
administrative expenses or effective tax rate.
Meghan Frank, Chief Financial Officer, commented: “We are
pleased with our performance during the holiday season, as guests
continue to respond well to our innovative and versatile product
offerings. Our sales trend remains balanced across channels,
categories, and geographies, enabling us to raise our guidance for
the fourth quarter and close out another strong year.”
Management will be meeting with analysts and investors at the
ICR Conference on January 8-10, 2024.
About lululemon athletica inc.
lululemon athletica inc. (NASDAQ:LULU) is a technical athletic
apparel, footwear, and accessories company for yoga, running,
training, and most other activities, creating transformational
products and experiences that build meaningful connections,
unlocking greater possibility and wellbeing for all. Setting the
bar in innovation of fabrics and functional designs, lululemon
works with yogis and athletes in local communities around the world
for continuous research and product feedback. For more information,
visit lululemon.com.
Forward-Looking Statements:
This press release includes estimates, projections, statements
relating to the Company's business plans, objectives, and expected
operating results that are "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995,
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. In many cases, you can identify
forward-looking statements by terms such as "may," "will,"
"should," "expects," "plans," "anticipates," "outlook," "believes,"
"intends," "estimates," "predicts," "potential" or the negative of
these terms or other comparable terminology. These forward-looking
statements also include the Company's guidance and outlook
statements. These statements are based on management's current
expectations but they involve a number of risks and uncertainties.
Actual results and the timing of events could differ materially
from those anticipated in the forward-looking statements as a
result of risks and uncertainties, which include, without
limitation: the Company's ability to maintain the value and
reputation of its brand; changes in consumer shopping preferences
and shifts in distribution channels; the acceptability of its
products to guests; its highly competitive market and increasing
competition; increasing costs and decreasing selling prices; its
ability to anticipate consumer preferences and successfully develop
and introduce new, innovative and updated products; its ability to
accurately forecast guest demand for its products; its ability to
expand in light of its limited operating experience and limited
brand recognition in new international markets and new product
categories; its ability to manage its growth and the increased
complexity of its business effectively; its ability to successfully
open new store locations in a timely manner; seasonality;
disruptions of its supply chain; its reliance on a relatively small
number of vendors to supply and manufacture a significant portion
of its products; suppliers or manufacturers not complying with its
Vendor Code of Ethics or applicable laws; its ability to deliver
its products to the market and to meet guest expectations if it has
problems with its distribution system; increasing labor costs and
other factors associated with the production of its products in
South Asia and South East Asia; its ability to safeguard against
security breaches with respect to its technology systems; its
compliance with privacy and data protection laws; any material
disruption of its information systems; its ability to have
technology-based systems function effectively and grow its
e-commerce business globally; climate change, and related
legislative and regulatory responses; increased scrutiny regarding
its environmental, social, and governance, or sustainability
responsibilities; an economic recession, depression, or downturn or
economic uncertainty in its key markets; global or regional health
events such as the current COVID-19 pandemic and related
government, private sector, and individual consumer responsive
actions; global economic and political conditions; its ability to
source and sell its merchandise profitably or at all if new trade
restrictions are imposed or existing trade restrictions become more
burdensome; changes in tax laws or unanticipated tax liabilities;
its ability to comply with trade and other regulations;
fluctuations in foreign currency exchange rates; imitation by its
competitors; its ability to protect its intellectual property
rights; conflicting trademarks and patents and the prevention of
sale of certain products; its exposure to various types of
litigation; and other risks and uncertainties set out in filings
made from time to time with the United States Securities and
Exchange Commission and available at www.sec.gov, including,
without limitation, its most recent reports on Form 10-K and Form
10-Q. You are urged to consider these factors carefully in
evaluating the forward-looking statements contained herein and are
cautioned not to place undue reliance on such forward-looking
statements, which are qualified in their entirety by these
cautionary statements. The forward-looking statements made herein
speak only as of the date of this press release and the Company
undertakes no obligation to publicly update such forward-looking
statements to reflect subsequent events or circumstances, except as
may be required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20240108049404/en/
Investor Contact: lululemon athletica inc. Howard Tubin
1-604-732-6124 or ICR, Inc. Joseph Teklits/Caitlin Churchill
1-203-682-8200 Media Contact: lululemon athletica inc. Erin
Hankinson 1-604-732-6124 or lululemon athletica inc. Madi Wallace
1-604-732-6124
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