Lululemon store

Lululemon Athletica is expecting a good Christmas.

The Vancouver, British Columbia-based athletic apparel and accessories company on Monday updated its revenues and earnings expectations for the fourth quarter. 

The company now expects sales and profits to be at the high end of its prior expectations for the three-month period ending Jan. 31 or the high end of mid- to high teens expectations for revenues and high end of mid-single-digit growth in adjusted diluted earnings per share. That’s on top of the more than $1 billion in revenues the company logged last quarter. 

“We’re pleased with the momentum over the holiday period as our investments in Lululemon and Mirror allowed us to connect with guests both physically and digitally,” Calvin McDonald, Lululemon’s chief executive officer, said in a statement. “We remain confident about our opportunities in 2021 and committed to our Power of Three growth plan.”

Shares of Lululemon, which closed down 1 percent on Monday to $361.66, are nonetheless up 47.5 percent year-over-year.

On Monday, Lululemon also revealed that it had tapped Nike alum Blanca Gonzalez as its new senior vice president of global merchandising.

Gonzalez, who is based in Los Angeles and begins on Feb. 1, will lead merchandising strategy for both the men’s and women’s divisions across North America, Europe, the Middle East, Africa and the APAC region.

“Blanca’s experience will enable Lululemon to further expand its product, awareness and consumer base in the run, train and yoga categories — positioning the brand as a global leader in technical apparel for all athletes and sweaty endeavors,” the company said in a statement.