Lululemon and Abercrombie & Fitch have both revised their fourth quarter outlooks following a robust holiday shopping season. Lululemon now anticipates sales to increase by 11% to 12%, projecting between $3.56 billion and $3.58 billion, up from an earlier estimate of $3.48 billion to $3.51 billion. The company also expects earnings per share to be between $5.81 and $5.85, an increase from the previous forecast of $5.56 to $5.64. Abercrombie & Fitch, on the other hand, slightly raised its net sales growth outlook to 7% to 8%, from 5% to 7%, with full-year sales expected to grow by 15%. Despite these positive adjustments, Abercrombie’s shares fell 9% as investors question the sustainability of its growth. Meanwhile, Urban Outfitters reported a 10% increase in net sales for the two months ending December 31, with a 6% rise in comparable retail segment sales. American Eagle also upped its operating profit forecast to $135 million from $125 million. Overall, holiday retail sales in the U.S. rose by 3.8% year over year, according to Mastercard SpendingPulse.
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