By Dhirendra Tripathi
Investing – Lululemon Athletica (NASDAQ:LULU) stock traded higher premarket Friday after the athletic apparel retailer raised its guidance for the year, riding on demand for its clothing as more people, coming out of a pandemic, look for healthier ways of living.
Adjusted diluted earnings per share for the fiscal year 2021, ending Jan. 30, 2022, were guided in the range of $6.73 to $6.86, up from the previous forecast of between $6.30 and $6.45 seen when the company reported on March 30.
Net revenue is seen between $5.82 billion and $5.90 billion, up from the $5.55 billion-$5.65 billion forecast earlier.
In the first quarter ending April 30, net revenue rose 88% to $1.2 billion.
Revenue from company-operated stores more than doubled, but the contribution of the direct-to-consumer segment in the total revenue fell a little short.
Adjusted diluted earnings per share were $1.16 compared to $0.23 in the first quarter of 2020.