Shares of Lululemon (LULU) - Get Lululemon Athletica Inc Report were higher in early afternoon trading on Tuesday, the day after the athleisure company raised its guidance for the 2016 fourth quarter from between $765 million and $785 million, to between $775 million and $785 million. The company's Holiday sales were a bright spot in an otherwise disappointing season for retailers.
Sales were "choppy" at the beginning of November but strengthened as the season continued, CEO Laurent Potdevin said on CNBC's "Squawk on the Street" on Tuesday morning. "If you look at Black Friday through Christmas, we did 85% of our business at full retail, which we're very, very excited about."
While sales are positive for the company, traffic has been "challenged" from a micro standpoint, Potdevin noted. The company isn't going after all traffic, but rather "that highly qualified traffic."
The retailer is confident that it will find an "equilibrium" in time as it improves its digital strategy and tries out different store format, he said.
The company isn't too worried about keeping traffic up because the "active, mindful lifestyle" is "timeless" and extends across genders and geographies, Potdevin claimed.