Lululemon Athletica
Looks like the Canadian athletic wear company Lululemon Athletica Inc. (TSX:LLL) is living up to its positive expectations since the company’s initial public offering. Lululemon is hiking its third-quarter profit forecast after increasing its comparable-store sales outlook to about 35-percent.
“Even though the increase in sales is expected to be partially offset by the currency impact on … costs incurred in Canada, the company expects to exceed its previous guidance of five to six cents earnings per share for the third quarter,” the Vancouver-based company said today.
The initial sales increase was set at about 15-percent.
“Strong sales volumes, with additional benefit coming from the impact on sales of a strengthening Canadian dollar against the U.S. dollar. On a constant-dollar basis, the revised guidance translates into a mid-20s percentage increase over 2006.”
Lululemon Athletica, completed a successful IPO during the summer, and has met and surpassed investor and analyst expectations. Lululemon is a yoga-inspired athletic apparel company. (More info here)
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