“These results illustrate the strength and differentiation of our omni operating model and position us well to deliver ongoing value for our stakeholders. We look forward to a strong finish to our fiscal year.”
But investors were not satisfied with the retailer’s fourth-quarter guidance. Shares fell nearly 10 percent in after-hours trading as a result. For the fourth quarter, Lululemon anticipates net sales will be in the range of $2.60 billion to $2.65 billion. Diluted earnings per share are expected in the range of $4.20 to $4.30 for the quarter.
Net revenues for the full year are expected in the range of $7.94 billion to $7.99 billion, with diluted earnings per share in the range of $9.94 to $10.04. Executives on the conference call acknowledged a challenging macro environment. But Frank added that the firm is expecting tailwinds in the form of reduced freight prices going forward. And despite an increasingly promotional environment, Lululemon anticipates fourth-quarter markdowns in line with 2019 levels.The retailer ended the quarter with 623 stores. Earlier this year, Lululemon
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