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Bloomberg
Lululemon Athletica Inc delivered a sales forecast for this year that exceeded analyst estimates, suggesting that the company is overcoming supply-chain snags that disrupted operations earlier this year.
The athletic-wear retailer expects sales to reach as much as $7.62 billion in the current fiscal year that ends next January. The average analyst estimate was $7.2 billion. The company’s outlook for the current quarter also surpassed market expectations.
Meanwhile, comparable-store sales rose 22% after excluding currency fluctuations for the fourth quarter. That’s below the average estimate compiled by Bloomberg. Lululemon’s board authorised a new share buyback program of $1 billion.
Lululemon has benefited from strong demand for comfortable clothes throughout pandemic with people working from home more often, but it has struggled to keep up as global supply chains across industries were hit with snags in recent months.