Lululemon raises its annual revenue forecast for the continued sports and leisure boom | Powerful 790 KFGO | KFGO

2021-12-13 16:32:52 By : Ms. Jing Liu

(Reuters)-Sportswear chain Lululemon Athletica Inc raised its full-year revenue forecast on Thursday, as demand for sports bras, leggings and hoodies and other sports and leisure clothing shows little signs of slowing during the pandemic.

People trapped at home during the COVID-19 lockdown last year gave up dresses and jeans and changed into more comfortable clothes, which benefited Lululemon, Aerie and Athleta.

The company said it now expects annual revenue to be between 6.25 billion U.S. dollars and 6.29 billion U.S. dollars, compared with previous forecasts of 6.19 billion U.S. dollars to 6.26 billion U.S. dollars. According to data from Refinitiv IBES, analysts had previously expected annual revenue of 6.27 billion U.S. dollars.

Lululemon's third-quarter revenue increased to 1.45 billion U.S. dollars from 1.12 billion U.S. dollars in the same period last year. Analysts had previously expected revenue of $1.44 billion.

(Reporting by Praveen Paramasivam in Bangalore; Editing by Ramakrishnan M.)