BUZZ-Lululemon Athletica Inc: Raises revenue, profit forecast

Mon Jan 12, 2015 8:16am EST
 
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** Yogawear chain's shares up 7.5 pct at $63 premarket

** Raises Q4 revenue and profit forecast above the average analyst estimate, citing strong holiday season sales

** "Our guests are responding positively to both the women's and men's product assortment," CEO Laurent Potdevin says

** Hikes Q4 revenue forecast to $595-$600 mln from $570-$585 mln, profit forecast to 71-73 cents per share from 65-69 cents

** Lululemon once dominated the market, but faces stiff competition now and has worked to improve quality and solve supply-chain problems

** Company cut its full-year revenue forecast a month back, hurt by as U.S. port disruptions and delayed store openings

** Since then the stock had risen 18 pct through Friday's close