Lululemon Athletica Jumps on Raised Guidance

Shares of Lululemon Athletica LULU are seeing much strength in Tuesday's trading session as the company raised guidance for the fourth quarter. Lululemon now expects Q4 diluted EPS to be in the range of $0.47-$0.49 as compared to its previous guidance range for $0.40-$0.42. The Company's improved guidance reflects stronger than anticipated net revenue for the quarter. The athletic apparel company now expects net revenue to be in the range of $358 million to $363 million for Q4 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 Q4 2010. Lululemon concluded, saying Q4 comparable-store sales 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 Q4 2011. Currently, shares of Lululemon are trading 12% higher at $60.10.