Citi Appoints Ryan Ellis as Head of Markets Sales for Australia and New Zealand 
MetaX IPO Soars as China’s AI Chip Stocks Ignite Investor Frenzy 
Trump Sues BBC for Defamation Over Edited Capitol Riot Speech Clip 
LG Energy Solution Shares Slide After Ford Cancels EV Battery Supply Deal 
EU Signals Major Shift on 2035 Combustion Engine Ban Amid Auto Industry Pressure 
Treasury Wine Estates Shares Plunge on Earnings Warning Amid U.S. and China Weakness 
noyb Files GDPR Complaints Against TikTok, Grindr, and AppsFlyer Over Alleged Illegal Data Tracking. 
Korea Zinc to Build $7.4 Billion Critical Minerals Refinery in Tennessee With U.S. Government Backing 
Apple Explores India for iPhone Chip Assembly as Manufacturing Push Accelerates 
Biren Technology Targets Hong Kong IPO to Raise $300 Million Amid China’s AI Chip Push 
SUPERFORTUNE Launches AI-Powered Mobile App, Expanding Beyond Web3 Into $392 Billion Metaphysics Market 
OpenAI Explores Massive Funding Round at $750 Billion Valuation 
Blackstone Leads $400 Million Funding Round in Cyera at $9 Billion Valuation 
Micron Technology Forecasts Surge in Revenue and Earnings on AI-Driven Memory Demand 
FAA Unveils Flight Plan 2026 to Strengthen Aviation Safety and Workforce Development 
Shell M&A Chief Exits After BP Takeover Proposal Rejected 
Robinhood Expands Sports Event Contracts With Player Performance Wagers 
Lululemon and Abercrombie & Fitch have raised their holiday quarter forecasts, suggesting robust demand during the crucial sales period. This comes after a mixed holiday season for the retail sector, with retailers vying for customers through steep discounts.
Strength in Product Offerings
Reuters reported that Lululemon and Abercrombie & Fitch benefitted from focusing on fresh styles and limited inventory overhang, increasing full-price sales.
Lululemon, which previously expected tepid holiday quarter results, expressed satisfaction with its performance during this period. CFO Meghan Frank stated, "Our sales trend remains balanced across channels, categories, and geographies, enabling us to raise our guidance."
Lululemon, according to The Gazette, now projects fourth-quarter revenue between $3.17 billion and $3.19 billion, slightly surpassing previous expectations. The company also anticipates a profit per share ranging from $4.96 to $5.00, compared to the prior forecast of $4.85 to $4.93.
Similarly, Abercrombie forecasts fourth-quarter net sales to increase in the high teens percentage range, up from its previous outlook of up-low double-digits.
Strong Performance in Women's Business
CEO Fran Horowitz of Abercrombie highlighted that the women's business is poised to achieve its highest-ever holiday quarter sales, further bolstering the positive outlook for the company.
Abercrombie shares, which tripled in 2023, experienced a 5% increase, whereas Lululemon saw a slight dip of approximately 1%. It is worth noting that Lululemon's shares had shown significant gains of nearly 60% last year.
Morningstar analyst David Swartz observed that many companies tend to offer conservative guidance, making upward revisions unsurprising. The positive outlooks provided by Lululemon and Abercrombie demonstrate the potential for solid performance in the retail sector.
Crocs and American Eagle Outfitters Join the Positive Trend
Footwear maker Crocs witnessed a significant surge of almost 14% as it projected a surprising increase in fourth-quarter sales. Meanwhile, American Eagle Outfitters raised its holiday-quarter revenue forecast with a 5% share boost.
Crocs, which faced challenges with inventory destocking at wholesalers last year, attributed its positive outlook to its namesake brand gaining market share.
Photo: Globe NewsWire
