NEW YORK — Lululemon, the seller of yoga gear, boosted its fourth-quarter outlook Monday following strong demand during holiday shopping season.
The company’s shares rose more than 7 percent in premarket trading Monday.
“We are entering 2015 in very good shape,” said Lululemon CEO Laurent Potdevin, in a statement. “Our guests are responding positively to both the women’s and men’s product assortment.”
The company said it now expects fourth-quarter earnings between 71 cents per share and 73 cents per share, up from its previous forecast between 65 cents per share and 69 cents per share. Analysts expected earnings of 69 cents per share, according to FactSet.
Revenue is now expected to be between $595 million and $600 million, compared with its previous forecast between $570 million and $585 million. Analysts expected revenue of $585.3 million.
Based in Vancouver, Canada, Lululemon Athletica Inc. sells yoga clothing, mats and other accessories online and at its 270 stores around the world.
Its shares rose $4.22, or 7.2 percent, to $62.85 in premarket trading about an hour before the market open.