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Lululemon Expects Revenue at Lower End of Expectations -Breaking

by Mike Robinson

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© Reuters.

Sam Boughedda

Investing.com — Lululemon Athletica Inc (NASDAQ:) shares fell 5% after it told investors Monday morning that the Omicron variant has affected the business, and it now expects earnings and revenue to be at the lower end of their respective ranges.

According to the athletic apparel manufacturer, it started the holiday season with a solid position, but has since suffered several consequences from the Omicron variant. These include increased capacity constraints and fewer staff available, as well as reduced hours at certain locations.

It now anticipates that revenue will be at the lower end of the range between $2.125 billion and $2.165 billion in the fourth quarter. For the fourth quarter, it expects earnings per share at the low end in its range of $3.25 to 3.32.

“We are closing out a strong 2021 in the coming weeks, and we’re pleased with how lululemon has delivered over the course of the year,” said the company’s CEO Calvin McDonald.

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