Photo: Meredith Galante/Business Insider
Two specialty retailers announced guidance changes this morning following the tally of holiday sales.Lululemon Athletica revised its fourth quarter earnings higher, to a range of $0.47 to $0.49 a share. That compares to $0.40 set earlier in the year. Comparable-store sales are forecast to grow in the low-to-mid twenties percentage range.
“Our work throughout the year building our inventory position is driving our success in the fourth quarter,” Christine Day, Lululemon’s CEO says. “Guests have responded exceptionally well to the robust assortment and bright colour palette for holiday, and momentum continues with the new spring product offerings.”
Shares in the yoga clothier are up 9% in pre-market trading.
Tiffany & Co., which saw sales surge 19% in the Asia-Pacific, said that a cooling momentum in the Americas would hit its results.
“After achieving very strong and better-than-expected sales and earnings growth in the first three quarters of 2011, sales weakened markedly in the United States and Europe during the holiday season, reflecting restrained spending by consumers for fine jewelry.
For the two month holiday period, global sales grew 7% to $952 million. Same-store sales at the retailer, or sales at stores open at least a year, increased 4%.
The company now estimates that earnings per share will grow 23% to 25% for the year for a range of $3.60 to $3.65. That is down 10 cents from earlier expectation for $3.70 to $3.80 per share.
Tiffany will provide further 2012 guidance in March.