(Reuters) -Lululemon Athletica Inc raised its forecast for full-year net revenue on Thursday, as demand for comfortable clothing, including leggings and sports bras, has shown little signs of slowing despite easing restrictions.
The COVID-19 pandemic and ensuing gym closures have pushed people to take up home exercises, running and biking, creating a demand surge for apparel from Lululemon and other athletic wear makers, including Nike Inc and Under Armour Inc.
The home-fitness trend coupled with an increase in interest in comfortable work-from-home lounge wear has prompted apparel sellers to double down on their casual offerings, with Lululemon also launching new styles of tank tops and shorts.
The owner of Mirror home-fitness platform said it expects fiscal 2021 net revenue to be in the range of $5.83 billion to $5.91 billion, compared with its prior range of $5.55 billion to $5.65 billion.
Net revenue rose to $1.23 billion in the first quarter, from $652 million a year earlier. Analysts on average had expected net revenue of $1.13 billion.
(Reporting by Praveen Paramasivam in Bengaluru; Editing by Shinjini Ganguli)
