Lululemon ups forecast as sales grow

Canadian activewear retailer Lululemon has upped its fourth quarter forecast following strong trading over the Christmas holiday period across the globe.

The business, which has UK stores across London as well as in Richmond-upon-Thames, Guildford and Manchester, now expects net revenue for the quarter ending 3 February to be in the range of $1.14bn to $1.15bn, up from its previous guidance of $1.115bn to $1.125bn.

”The momentum in our business remained strong throughout the holiday season, reflecting the ongoing success of our product offerings and our connection with guests around the globe," said CEO Colin McDonald.

McDonald added that online sales had surged in the quarter and that its e-commerce business in China had leapt by 76%.

Lululemon has risen to global prominence on the wave of the athleisure movement, offering yoga and running gear for women and men, and also connects with customers via in-store experiences and events.