lululemon athletica inc. Raises Guidance for Fourth Quarter of Fiscal 2011; Guides Q4 EPS $0.47-0.49 vs $0.42 Est

lululemon athletica inc. LULU today announced that the Company is raising its guidance for the fourth quarter of fiscal 2011 ending January 29, 2012. For the fourth quarter of fiscal 2011, the Company now expects diluted earnings per share to be in the range of $0.47 to $0.49 as compared to its previous guidance range for diluted earnings per share of $0.40 to $0.42. The Company's improved guidance reflects stronger than anticipated net revenue for the quarter. The Company now expects net revenue to be in the range of $358 million to $363 million for the fourth quarter of fiscal 2011. This compares to the Company's previous guidance of net revenue in the range of $327 million to $332 million for the quarter, and compares to net revenue of $245 million for the fourth quarter of fiscal 2010. Comparable-store sales for the fourth quarter of fiscal 2011 are expected to reflect a low-to-mid twenties percentage increase on a constant-dollar basis. This compares to the Company's previous guidance of low to mid-teens comparable-store sales for the fourth quarter of fiscal 2011.