In its earnings report Thursday, the Vancouver-based athleisure maker forecast fourth-quarter profit between US$4.85 and US$4.93 a share and revenue between US$3.14 billion and US$3.17 billion, both just below analysts’ expectations, according to PitchBook. (The Logic)
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In its earnings report Thursday, the Vancouver-based athleisure maker forecast fourth-quarter profit between US$4.85 and US$4.93 a share and revenue between US$3.14 billion and US$3.17 billion, both just below analysts’ expectations, according to PitchBook. (The Logic)
Talking point: Despite the tepid fourth-quarter forecast, Lululemon raised its profit and revenue forecasts for the year. CEO Calvin McDonald said the retailer is happy with its performance over the U.S. Thanksgiving weekend, which marks the start of the holiday shopping period. “Black Friday was the single biggest day in company history,” he said—though the company said it remained prudent in planning for the remainder of the holiday season. Other retailers have been awaiting the key shopping period with a lack of clarity on how consumers will spend this year. Earlier this week, Roots highlighted “altered consumer spending patterns” as it reported a nine per cent drop in quarterly sales. CEO Meghan Roach also said Roots is “prudently cautious” as Canadian consumers face economic challenges.
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