Adds particulars on outcomes
March 30 (Reuters) – Lululemon Athletica Inc LULU.O forecast first-quarter income above analysts’ estimates on Tuesday, because it expects sustained demand for leggings and sports activities bras from customers on the lookout for snug home-exercise attire.
The COVID-19 well being disaster has pushed extra folks to train at dwelling, making a surge in demand for attire from Lululemon and different athletic put on makers.
Nevertheless, the corporate warned {that a} resurgences in COVID-19, together with new variants, might trigger further retailer closures, result in decrease shopper demand and disrupt its provide chain.
Lululemon mentioned it expects first-quarter income of $1.10 billion to $1.13 billion, in contrast with analysts’ common estimate of $999.5 million, in response to IBES knowledge from Refinitiv.
Internet income rose 24% to $1.73 billion within the fourth quarter, beating analysts’ estimates of $1.66 billion.
(Reporting by Uday Sampath and Mehr Bedi in Bengaluru; Modifying by Vinay Dwivedi)
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