For those who still doubt that athleisurewear is here to stay – Lululemon (LULU) is here to prove y’all wrong.
The athletic apparel company announced that it expects its profit and sales numbers for the fourth quarter, which ends on January 31, to beat its previous forecasts. This is hardly surprising considering athleisurewear and loungewear were the big winners of the 2020 lockdown fashion trend (why would you have needed to ever get out of your favorite leggings during that time?)
The better-than-expected outlook was driven by an exceptionally good holiday season. Lululemon’s shares were down around 3% after the markets opened on Monday, but likely because investors expected the brand to boost its outlook according to the data.