(Reuters) – Lululemon Athletica (NASDAQ:LULU) on Monday raised its current-quarter sales and profit targets, as the sportswear maker benefited from strong demand for its apparel during the holiday shopping season.
Lululemon’s shares were up nearly 4% in premarket trading.
Department store operator Nordstrom (NYSE:JWN) raised its annual forecast last week on the back of robust sales during the holidays as deep discounts on apparel and home decor items helped attract deal-hunting customers to its outlets.
Lululemon now expects quarterly net revenue in the range of $3.560 billion to $3.580 billion, and profit per share between $5.81 to $5.85.
This compared with its prior targets of net revenue in the range of $3.475 billion to $3.510 billion, and profit per share between $5.56 to $5.64.