(Retail winners and losers article updated with Supervalu earnings.)

NEW YORK ( TheStreet) -- Retailers provided more color on fourth-quarter earnings, with some expecting a brighter quarter and others predicting they will miss the mark.

Lululemon Athletica ( LULU) is surging in after-hours trading as the company upped its outlook for the remainder of the year.

The yoga-inspired retailer now expects fourth-quarter earnings in the range of 55 cents to 57 cents a share, from prior outlook of 46 cents to 48 cents.

"We are wrapping up another record year for Lululemon, one in which we were able to drive strong earnings growth due to exceptional results across our retail and e-commerce channels," CEO Christine Day said in a statement. "In 2010, we were able to strengthen our brand awareness while making key investments for the future. We will be chasing inventory for the remainder of the fourth quarter and into the spring season, and in the near term will be focused once again on matching supply with demand."

Shares of Lululemon are spiking 7% to $71.94 after the close.**

Tiffany ( TIF) raised its full-year guidance following better-than-expected holiday sales. The company now expects to earn between $2.83 and $2.88 a share for the year, from a prior outlook of $2.72 to $2.77 a share.

It is also looking for revenue of $3.1 billion, better than the $3.05 billion Wall Street forecasts.

This is yet another sign that luxury shopper is leading the recovery.

Sears ( SHLD) is also jumping before the bell, after saying that it foresees its fourth-quarter and full-year earnings to come in ahead of consensus estimates.

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