Lululemon Athletica Expects Better Q4 Results Than It Expected Earlier ; Shares Up In Pre-market

(RTTNews) - lululemon athletica inc. (LULU), a retailer of athletic apparel and accessories, Monday said it currently expects fourth-quarter earnings as well as revenue higher than its previous expectations. The new outlook stands above analysts' view. The company's shares were more than 3 percent up in pre-market.

It now sees earnings per share in the range of $5.81 - $5.85 for the quarter, up from $5.56 - $5.64 guided earlier.

Revenue outlook has been raised to $3.560 billion - $3.580 billion from $3.475 billion - $3.510 billion

Analysts on average, expect the company to report earnings of $5.66 per share on revenue of $3.52 billion for the quarter. Analysts' estimates typically exclude special items.

Meghan Frank, Chief Financial Officer, commented, "During the holiday season, our guests responded well to our product offering, enabling us to increase our fourth quarter guidance."

Lululemon stock had closed at $395.47, up 0.65 percent on Friday. It has traded in the range of $226.01 - $491.30 in the last 1 year.