Holiday Season Is Booming, Lululemon Improves Quarterly Sales And Profit Outlook.
Beijing time January 14th, Lululemon, a sportswear retailer, raised its quarterly sales and profit outlook on Monday, driven by the booming demand for the holiday season.
Lululemon currently expects quarterly earnings per share to be between 2.22-2.25 US dollars as of February 2nd, higher than previously expected 2.10-2.13 dollars. The company predicted in December that its holiday season sales would be much lower than Wall Street expected.
Retailers, including Kohl 's, Messi stores and J.C. Penney, have seen mixed performances in the holiday season under the competition of e-commerce giants such as Amazon.
Lululemon also raised quarterly net income from 1 billion 320 million -13.3 billion to 1 billion 370 million -13.8 billion.
The company's share price has risen 1.4% so far this year, almost doubled in 2019.
Source: Sina shares
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