“We continue to leverage and enhance our in-store and omni capabilities, including enhancing our mobile app to facilitate curbside pickup for guests, make our in-store handheld units more intuitive for our educators to help speed guests through transactions, and continue to offer our online digital educator service at no cost — providing a personal shopping experience for guests who can’t make it into our stores,” said McDonald.
The company expects capital expenditures to be approximately $375-$385 million for 2021. The increase versus 2020 reflects boosted investment in the retailer’s supply chain, digital capabilities, new store openings and renovations, including Mirror shop-in-shops, other technology and general corporate infrastructure projects.
The retailer also raised its outlook for the year. For 2021, it expects net revenue to be in the range of $6.250 billion to $6.290 billion. Diluted earnings per share are expected to be in the range of $7.38 to $7.45 for the year and adjusted diluted earnings per share are expected to be in the range of $7.69 to $7.76.
“Our teams continue to execute at a high level, which has enabled our strong Q3 performance and the upward revision to our guidance,” said CFO Meghan Frank in a statement. “We are pleased with these results given the ongoing, industry-wide supply chain issues we continue to navigate. While there are several large volume weeks ahead of us, we feel well positioned for a strong end to 2021.”
“Our third quarter results demonstrate the ongoing strength of lululemon and the tremendous growth potential of the business in both the near- and long-term,” said McDonald in a statement. “We are pleased with our early holiday season performance and how the lululemon brand continues to resonate in markets around the world.”