| Lululemon Athletica Inc. (NASDAQ: LULU) today announced that, for the fourth quarter of fiscal 2024, the Company now expects net revenue will be in the range of $3.560 billion to $3.580 billion, representing growth of 11% to 12% compared to the fourth quarter of fiscal 2023, or growth of 6% to 7% excluding the 53rd week of 2024. The previous guidance range was $3.475 billion to $3.510 billion. |
| Diluted earnings per share are now expected to be in the range of $5.81 to $5.85 for the fourth quarter of fiscal 2024 compared to the Company’s previous guidance range of $5.56 to $5.64. |
| The Company now expects gross margin to increase approximately 30 basis points relative to the fourth quarter of fiscal 2023, compared to its previous guidance of a decrease of 20 to 30 basis points. It now expects deleverage of selling, general, and administrative expenses of 80 to 90 basis points relative to the fourth quarter of fiscal 2023 compared to its previous guidance of deleverage of 90 to 100 basis points. There is no change to the Company’s previous guidance for the effective tax rate. |
| Meghan Frank, Chief Financial Officer, commented: “During the holiday season, our guests responded well to our product offering, enabling us to increase our fourth quarter guidance. As we close out our 2024 fiscal year, I want to thank our teams around the world for their hard work and ongoing commitment to supporting our guests and communities.” |
| Management will be meeting with analysts and investors at the ICR Conference on January 13-15, 2025. |
| Please refer to the section below entitled “Non-GAAP Financial Measures.” |
| About Lululemon Athletica Inc. |
| Lululemon Athletica Inc. (NASDAQ: LULU) is a technical athletic apparel, footwear, and accessories company for yoga, running, training, and most other activities, creating transformational products and experiences that build meaningful connections, unlocking greater possibility and well-being for all. Setting the bar in innovation of fabrics and functional designs, lululemon works with yogis and athletes in local communities around the world for continuous research and product feedback. For more information, visit lululemon.com. |
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| Lululemon Athletica Inc. |
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