Lululemon Crushed It Over the Holidays
Just when athletic apparel company lululemon athletica's (NASDAQ: LULU) momentum was looking as if it couldn't get any better, it did. The company crushed it over the holidays, so much so that management said it now expects its fiscal fourth-quarter revenue and earnings per share to be significantly higher than the guidance range it laid out for the period when it reported fiscal third-quarter results in December. "We're excited by the momentum in our business over the holiday period with guests responding well to our innovative merchandise offerings," said Lululemon CEO Calvin McDonald in a press release on Monday. Management also said it now expects a comparable sales growth rate in the mid to high teen percentages on a constant-currency basis -- up from the prior expectation for a growth rate in the low double digits.