Lululemon (Vancouver, British Columbia) announced it is adjusting its revenue and earnings expectations for its fourth quarter, mostly due to impact caused by the Omicron Covid variant, according to a company press release.
“We are closing out a strong 2021 in the coming weeks, and we’re pleased with how Lululemon has delivered over the course of the year,” said Calvin McDonald, Chief Executive Officer, Lululemon, in the company press release. “We started the holiday season in a strong position but have since experienced several consequences of the Omicron variant, including increased capacity constraints, more limited staff availability, and reduced operating hours in certain locations. I am proud of how our teams continue to deliver for our guests, and we are excited about what the future holds for Lululemon.”
The company believes its revenue will be at the low end of its range of $2.124 billion and $2.165 billion.