Lululemon Athletica forecasts higher first-quarter revenue on sustained demand hopes
Reuters
Published Mar 30, 2021 04:18PM ET
Updated Mar 30, 2021 04:30PM ET
(Reuters) - Lululemon Athletica (NASDAQ:LULU) Inc forecast first-quarter revenue above analysts' estimates on Tuesday, as it expects sustained demand for leggings and sports bras from consumers looking for comfortable home-exercise apparel.
The COVID-19 health crisis has pushed more people to exercise at home, creating a surge in demand for apparel from Lululemon and other athletic wear makers.
However, the company warned that a resurgences in COVID-19, including new variants, could cause additional store closures, lead to lower consumer demand and disrupt its supply chain.
Lululemon said it expects first-quarter revenue of $1.10 billion to $1.13 billion, compared with analysts' average estimate of $999.5 million, according to IBES data from Refinitiv.
Net revenue rose 24% to $1.73 billion in the fourth quarter, beating analysts' estimates of $1.66 billion.
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Written By: Reuters
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