Shares of Lululemon are climbing in Monday trading after the athletic apparel retailer raised its fourth quarter guidance, based on improving trends and strong holiday results. Lululemon said it now expects that fourth-quarter net revenue will be in the range of $595 million to $600 million based on a total comparable sales increase between 6% and 7%, up from its prior guidance of net revenue in the range of $570 million to $585 million for the fourth quarter on comp sales of low single digits on a constant dollar basis. In a recent note, Wells Fargo equity research analysts call LULU ‘one of the nicer houses in a great neighborhood’ and outline their expectation that the company will drive strong top and bottom-line growth over the coming years.
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