Lululemon’s Forecast Too Low for Investors Used to Big Beats
Bloomberg 1/11/2021 Sandrine Rastello
(Bloomberg) Yogawear maker Lululemon Athletica Inc. revised its guidance for the current quarter but failed to impress investors who expected better.
The Vancouver-based company said Monday it sees sales growth in the high teens for the period ending Jan. 31, at the high end of its Dec. 10 guidance. Growth in adjusted diluted earnings per share will “be at the high end of its mid-single digits expectation,” the company said.
That wasn’t enough to some investors, who’ve become used to Lululemon beating expectations. The shares dropped in premarket trading and were down 0.5% to $356.46 as of 9:35 a.m. in New York.