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Retailer Lululemon raises financial guidance for its fourth quarter

VANCOUVER — Lululemon Athletica Inc. is raising its financial guidance for its fourth-quarter.

The company, which keeps its books in U.S. dollars, says it now expects net revenue in a range of US$1.370 billion to $1.380 billion based on a total comparable sales increase in the mid to high teens on a constant dollar basis.

The new range is up with earlier guidance for net revenue of $1.315 billion to $1.330 billion based on a total comparable sales increase in the low double digits on a constant dollar basis.

Diluted earnings per share are expected to now be in a range of $2.22 to $2.25 for the fourth quarter.

Lululemon's earlier guidance had been for diluted earnings per share of $2.10 to $2.13.

The company's fourth quarter ends Feb. 2.

This report by The Canadian Press was first published Jan. 13, 2020.

The Canadian Press