Lululemon and Abercrombie boost their holiday earnings outlooks, but not enough to appease investors
Lululemon and Abercrombie both boosted their earnings outlooks for the all-important Q4 holiday season, but the guidance wasn’t good enough to make hungry investors happy.
Lululemon now expects sales growth of up to 12% and a lift in profits as the brand grows overseas. Shares initially popped, but the shine faded and the stock recently turned negative.
Meanwhile, retailer Abercrombie & Fitch also raised its holiday outlook after two years of blowout earnings results. But the stock fell 18% after the company’s full-year sales forecast came in short of last year’s blockbuster growth.
Younger rival Urban Outfitters posted record holiday results, with sales jumping 10% largely thanks to its Anthropologie brand and clothing-rental service Nuuly. But the stock also fell about 5%.
Meanwhile, retailer Abercrombie & Fitch also raised its holiday outlook after two years of blowout earnings results. But the stock fell 18% after the company’s full-year sales forecast came in short of last year’s blockbuster growth.
Younger rival Urban Outfitters posted record holiday results, with sales jumping 10% largely thanks to its Anthropologie brand and clothing-rental service Nuuly. But the stock also fell about 5%.
