LULU Stock ( NASDAQ:LULU )
Lululemon Athletica ( NASDAQ:LULU ) changed its forecast for the LULU)%20today%20announced,%242.605%20billion%20to%20%242.655%20billion%20." rel="noopener" target="_blank"> fourth quarter of the fiscal year 2022. Even though the macro environment was unstable, management said that the company’s business was going well and making a lot of money.
The company has seen many people both online and in stores. This is likely good for the bottom line of the company. It is happy with its Power of Three x2 expansion plan.
Because of the positive trends, the company raised its revenue and earnings per share estimates for the fourth quarter of fiscal 2022. For fiscal 2022, earnings per share are expected to be about the same as what was expected before. But the company warned about the gross margin for the fourth quarter of the fiscal year and expected more SG&A leverage.
In fiscal 2022, Lululemon expects its net sales to be between $2.660 billion and $2.700 billion, a 25–27% increase from the previous year. Before, the company said that its net sales would be between $2.605 billion and $2.655 billion, which would be a 22-25% increase from the previous year.
In the fourth quarter of the fiscal year, the company expects adjusted earnings per share of $4.22 to $4.27. This is up from $4.20 to $4.30 before. It thinks the real tax rate will be 28.5% for the fourth quarter of the fiscal year.
The company expects the gross margin to go down by 90–110 basis points (bps) in the fourth quarter of the fiscal year. This is different from what was said before: it would go up by 10–20 bps. However, it expects SG&A expenses to leverage 100-120 bps instead of the 30-50 bps that was said before.
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