Lululemon Athletica on Tuesday forecast full-year profit and revenue above estimates as demand for athletic wear remains consistent even as people return to offices, and said it plans selective price increases on some of its products.
The logo for Lululemon Athletica is seen at a store in Manhattan, New York, U.S., December 7, 2021. REUTERS/Andrew Kellyon Tuesday forecast full-year profit and revenue above estimates as demand for athletic wear remains consistent even as people return to offices, and said it plans selective price increases on some of its products.
Since the pandemic started, many consumers have shifted their preference to comfortable and casual clothing helping brands such as Lululemon whose athleisure and sportswear have now become a major part of everyday fashion."We are taking modest selective price increases over the course of the year... It's a very small portion of our styles that are impacted...
Lululemon forecast full-year 2022 revenue between $7.49 billion and $7.62 billion, while analysts are expecting $7.30 billion, according to IBES data from Refinitiv.
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