Lululemon Athletica inc. (LLL-T63.13-0.17-0.27%) stock jumped 15 per cent Tuesday after the fashion company announced this quarter's sales are turning out to be even stronger than expected, the Glove and Mail reports.
The yoga-inspired retailer now expects between $358-million (U.S.) and $363-million of revenue for the quarter ending Jan. 29, about $30-million higher than its previous guidance and analyst estimates. It also expects diluted earnings will be about seven cents per share higher than previously estimated, in a range of 47 cents to 49 cents per share. The increase will raise the projected profit by about $7-million to between $47.5-million and $49.6-million, based on about 101 million shares outstanding.
Lululemon shares gained $8.34 (Canadian) to trade at $63.03 on the Toronto Stock Exchange shortly after the market opened Tuesday….
Read all about it at http://www.theglobeandmail.com/globe-investor/lululemon-shares-jump-as-it-boosts-outlook/article2297305/
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