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Lululemon raises annual revenue forecast on sustained athleisure boom -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO: A tag is seen on clothes in a Lululemon Athletica retailer in Manhattan, New York, U.S., December 7, 2021. REUTERS/Andrew Kelly

(Reuters) – Athletic attire chain Lululemon Athletica (NASDAQ:) Inc raised its full-year income forecast on Thursday, as demand for athleisure clothes corresponding to sports activities bras, leggings, and hoodies in the course of the pandemic confirmed little indicators of slowing.

Individuals caught at house throughout COVID-19 lockdowns final yr ditched clothes and denims for extra comfy clothes, benefiting Lululemon, Aerie and Athleta.

The corporate stated it now expects annual income to be between $6.25 billion and $6.29 billion, in contrast with its earlier forecast of $6.19 billion to $6.26 billion. Analysts had anticipated full-year income of $6.27 billion, in response to Refinitiv IBES information.

Lululemon’s income rose to $1.45 billion within the third quarter, from $1.12 billion a yr earlier. Analysts had anticipated income of $1.44 billion.

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